Malakoff Corporation broke past the resistance price of RM0.87 in its previous session. With the momentum indicator RSI above 60%, it may continue to move towards the target price of RM0.91 followed by RM0.935. If it dips below RM0.87, expect a sideway consolidation again. In this case, the support price is anticipated at RM0.84, whereby traders may exit on a breach to avoid the risk of a further correction.
Trading Call: Buy on continuation above RM0.87
Target: RM0.91, RM0.935 (time frame: 3-6 weeks)
Exit: RM0.84
Source: AmInvest Research - 29 Nov 2019
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