Malakoff Corporation was testing the RM0.875 level in its latest session. With a moderate RSI level, it may trend higher above this point with a target price of RM0.91 and RM0.94. Meanwhile, it may continue trending sideways if it fails to cross the RM0.875 mark in the near term. In this case, support is anticipated at RM0.845, whereby traders may exit on a breach to avoid the risk of a further correction.

Trading Call: Buy upon breakout above RM0.875
Target: RM0.91, RM0.94 (time frame: 3-6 weeks)
Exit: RM0.845

Source: AmInvest Research - 23 Dec 2019