Mah Sing Group has recovered from its low to test the RM0.78 immediate resistance level. With an RSI above 50%, a bullish bias may be present above this mark with target prices of RM0.825 and RM0.865. Meanwhile, it may continue moving sideways if it fails to cross RM0.78 in the near term. In this case, the immediate support is anticipated at RM0.74, whereby traders may exit on a breach to avoid the risk of a further correction.

Trading Call: Buy upon breakout above RM0.78

Target: RM0.825, RM0.865 (time frame: 3-6 weeks)

Exit: RM0.74

Source: AmInvest Research - 5 Nov 2019