Malaysian Pacific Industries jumped higher and may soon test the RM11.58 resistance level. With a healthy RSI level, a bullish bias may be present above this mark with a target price of RM12.46. Meanwhile, it may continue moving sideways if it fails to cross the RM11.58 mark in the near term. In this case, the immediate support is anticipated at RM10.90, whereby traders may exit on a breach to avoid the risk of a further correction.

Trading Call: Buy upon breakout above RM11.58
Target: RM12.46 (time frame: 3-6 weeks)
Exit: RM10.90

Source: AmInvest Research - 23 Dec 2019