AmInvest Research Reports
Stocks on Radar - Malayan Flour Mills (3662)
AmInvest
Publish date: Mon, 06 Jan 2020, 09:57 AM
AmInvest
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All materials published here are prepared by AmInvest. For latest offers on AmInvest trading products and news, please refer to: https://www.aminvest.com/eng/Pages/home.aspx
Tel: +603 2036 1800 / +603 2032 2888
Fax: +603 2031 5210
Email: enquiries@aminvest.com
Office Hours
Monday to Thursday: 8:45am – 5:45pm
Friday: 8:45am – 5:00pm
(GMT +08:00 Malaysia)
Malayan Flour Mills has rebounded from its low to test the immediate resistance level of RM0.67. With a rising RSI, a bullish bias may be present above this mark with the target prices of RM0.71 and RM0.73. In this case, the immediate support is anticipated at RM0.635, whereby traders may exit on a breach to avoid the risk of a further correction.
Trading Call: Buy upon breakout above RM0.67
Target: RM0.71, RM0.73 (time frame: 3-6 weeks)
Exit: RM0.635
Source: AmInvest Research - 6 Jan 2020
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