Mega First Corporation was testing the RM4.30 mark in its latest session. With an RSI level above 70%, a bullish bias may be present above this point with a target price of RM4.45, followed by RM4.60. Meanwhile, it may continue trending sideways if it fails to cross the RM4.30 mark in the near term. In this case, support is anticipated at RM4.15 whereby traders may exit on a breach to avoid the risk of a further correction.
Trading Call: Buy upon breakout above RM4.30
Target: RM4.45, RM4.60 (time frame: 3-6 weeks)
Exit: RM4.15
Source: AmInvest Research - 9 Oct 2019
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