MI Technovation surged past the resistance price of RM1.94 in its latest session with higher trading volume. With the momentum indicator RSI above 70%, the short-term momentum could reach a target price of RM2.04, followed by RM2.14. If it dips below RM1.94, it will continue to move sideways and consolidate. Support price is anticipated at RM1.84 whereby traders may exit on a breach to avoid the risk of a further correction.

Trading Call: Buy on continuation above RM1.94

Target: RM2.04, RM2.14 (time frame: 3-6 weeks)

Exit: RM1.84

Source: AmInvest Research - 27 Aug 2019