Magni-Tech Industries shot up and formed a long white candle in its lastest session. With an RSI level above 60%, it may continue to climb above the resistance price of RM5.25. If this happens, its short-term target price will be RM5.48 followed by RM5.71. Support price is anticipated at RM5.02, whereby traders may exit on a breach to avoid the risk of a further correction.

Trading Call: Buy upon breakout above RM5.25

Target: RM5.48, RM5.71 (time frame: 3-6 weeks)

Exit: RM5.02

Source: AmInvest Research - 26 Aug 2019