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