IFCA MSC may soon test the RM0.48 resistance level. With a rising RSI, a bullish bias may be present above this mark with the short-term target prices of RM0.515 and RM0.53. Meanwhile, it may continue moving sideways if it fails to cross the RM0.48 mark in the near term. In this case, the downside support is anticipated at RM0.435, whereby traders may exit on a breach to avoid the risk of a further correction Trading Call: Buy upon breakout above RM0.48

Target: RM0.515, RM0.53 (time frame: 3-6 weeks) Exit: RM0.435

Source: AmInvest Research - 20 Jan 2020