Mieco Chipboard shot up and formed a long white candle in its lastest session. With an RSI level above 60%, it may continue to climb above the resistance price of RM0.335. If this happens, its short-term target price will be RM0.36 followed by RM0.40. 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 RM0.335
Target: RM0.36, RM0.40 (time frame: 3-6 weeks)
Exit: RM0.29

Source: AmInvest Research - 30 Oct 2019