Magni-Tech Industries surged past the resistance price of RM5.38 in the latest session. With the momentum indicator RSI above 60%, it may continue to move towards the target price of RM5.71 followed by RM5.80. If it dips below RM5.38, expect a sideway consolidation again. In this case, support price is anticipated at RM5.18, whereby traders may exit on a breach to avoid the risk of a further correction.

Trading Call: Buy on continuation above RM5.38

Target: RM5.71, RM5.80 (time frame: 3-6 weeks)

Exit: RM5.18

Source: AmInvest Research - 3 Sept 2019