MMC Corporation inched higher and may soon test the immediate resistance level of RM0.985. With an RSI level above 60%, it may continue to climb above the resistance price and move towards the short-term target price of RM1.04 followed by RM1.08. Support is anticipated at RM0.96, whereby traders may exit on a breach to avoid the risk of a further correction. Trading Call: Buy upon breakout above RM0.985
Target: RM1.04, RM1.08 (time frame: 3-6 weeks) Exit: RM0.96
Source: AmInvest Research - 15 Jan 2020
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