MBM Resources has been range-bound during recent sessions. Higher trading volume was recorded in the previous session. With the selling pressure having subsided, there is a possibility it will break above the resistance price of RM3.90, and move towards the target prices of RM4.05 and RM4.15. The immediate support is anticipated at RM3.70, whereby traders may exit on a breach to avoid the risk of a further consolidation.

Trading Call: Buy upon breakout above RM3.90
Target: RM4.05, RM4.15 (time frame: 3-6 weeks)
Exit: RM3.70

Source: AmInvest Research - 28 Nov 2019