Malaysian Pacific Industries surged past the resistance price of RM9.22 in its latest session with higher trading volume. With an RSI above 60%, the short-term momentum could reach a target price of RM9.66, followed by RM9.85. If it dips below RM9.22, it will continue to move sideways and consolidates. Support is anticipated at RM9.03 whereby traders may exit on a breach to avoid the risk of a further correction.

Trading Call: Buy on continuation above RM9.22

Target: RM9.66, RM9.85 (time frame: 3-6 weeks)

Exit: RM9.03

Source: AmInvest Research - 7 Oct 2019