Malaysia Marine and Heavy Engineering may soon test the RM0.925 resistance level. With a rising RSI, a bullish bias may be present above this mark with short-term target prices of RM0.98 and RM1.03. Meanwhile, it may continue moving sideways if it fails to cross the RM0.925 mark in the near term. In this case, the downside support is anticipated at RM0.875, whereby traders may exit on a breach to avoid the risk of a further correction

Trading Call: Buy upon breakout above RM0.925

Target: RM0.98, RM1.03 (time frame: 3-6 weeks)

Exit: RM0.875

Source: AmInvest Research - 24 Oct 2019