MMC Corporation shot up and formed a long white candle in its lastest session. With an RSI level above 50%, it may continue to climb above the resistance price of RM1.12. If this happens, its short-term target price will be RM1.19 followed by RM1.25. Support price is anticipated at RM1.03, whereby traders may exit on a breach to avoid the risk of a further correction.
Trading Call: Buy upon breakout above RM1.12
Target: RM1.19, RM1.25 (time frame: 3-6 weeks)
Exit: RM1.03
Source: AmInvest Research - 19 Aug 2019
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