MMC Corporation has has been consolidating sideways during the last few sessions, with an immediate resistance price of RM0.985. With an RSI above 50%, it may break the resistance level. If this happens, the short-term target price will be RM1.02 and RM1.08. In this case, support price is anticipated at RM0.945, whereby traders may exit on a breach to avoid the risk of a further correction.
Trading Call: Buy upon breakout above RM0.985
Target: RM1.02, RM1.08 (time frame: 3-6 weeks)
Exit: RM0.945
Source: AmInvest Research - 24 Dec 2019
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