MISC shot up and formed a long white candle in its lastest session. With an RSI level above 70%, it may continue to climb above the resistance price of RM8.00. If this happens, its shortterm target prices will be RM8.32 followed by RM8.68. It may lose its bullish momentum if it fails to break the resistance. Support is then anticipated at RM0.895, whereby traders may exit on a breach to avoid the risk of a further correction.

Trading Call: Buy upon breakout above RM8.00

Target: RM8.32, RM8.68 (time frame: 3-6 weeks)

Exit: RM7.68

Source: AmInvest Research - 10 Oct 2019