IFCA MSC has rebounded from its low to test the immediate resistance level of RM0.32. With an RSI above 50%, a bullish bias may be present above this mark with target prices of RM0.35 and RM0.38. In this case, the immediate support is anticipated at RM0.29, whereby traders may exit on a breach to avoid the risk of a further correction.

Trading Call: Buy upon breakout above RM0.32 Target: RM0.35, RM0.38 (time frame: 3-6 weeks) Exit: RM0.29

Source: AmInvest Research - 4 Oct 2019