AmInvest Research Reports
Stocks on Radar - MBM Resources (5983)
AmInvest
Publish date: Fri, 10 Jan 2020, 09:38 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)
MBM Resources surged past the resistance price of RM4.00 in its latest session with higher trading volume. With the momentum indicator RSI above 60%, the short-term momentum could reach a target price of RM4.20, followed by RM4.40. If it dips belowRM4.00, it will continue to move sideways and consolidate. Support is anticipated at RM3.90 whereby traders may exit on a breach to avoid the risk of a further correction. Trading Call: Buy on continuation above RM4.00
Target: RM4.20, RM4.40 (time frame: 3-6 weeks) Exit: RM3.90
Source: AmInvest Research - 10 Jan 2020
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