Berjaya Food has rebounded from its low to test the immediate resistance level of RM3.96. With a rising RSI, a bullish bias may be present above this mark with the target prices of RM4.15 and RM4.30. Meanwhile, it may continue moving sideways if it fails to cross the RM3.96 mark in the near term. In this case, the immediate support is anticipated at RM3.80, whereby traders may exit on a breach to avoid the risk of a further correction. Trading Call: Buy upon breakout above RM3.96

Target: RM4.15, RM4.30 (time frame: 3-6 weeks) Exit: RM3.80

Source: AmInvest Research - 8 Jan 2020