Malayan Flour Mills surged past the resistance price RM0.60 in its latest session with higher trading volume. With the momentum indicator RSI above 60%, the short-term momentum could reach a target price of RM0.64, followed by RM0.66. If it dips below RM0.60, it will continue to move sideways and consolidate. Support is anticipated at RM0.575 whereby traders may exit on a breach to avoid the risk of a further correction.

Trading Call: Buy on continuation above RM0.60
Target: RM0.64, RM0.66 (time frame: 3-6 weeks)
Exit: RM0.575

Source: AmInvest Research - 2 Oct 2019