Mitrajaya Holdings has been consolidating range-bound during recent sessions with the immediate resistance at RM0.295. With a rising RSI, a bullish bias may be present above this mark with the short-term target prices of RM0.315 and RM0.33. In this case, the downside support is anticipated at RM0.275, whereby traders may exit on a breach to avoid the risk of a further correction.

Trading Call: Buy upon breakout above RM0.295

Target: RM0.315, RM0.33 (time frame: 3-6 weeks)

Exit: RM0.275

Source: AmInvest Research - 13 Jan 2020