MMC Corporation broke past the RM0.93 resistance level. With a rising RSI, the momentum may continue towards the short-term target prices of RM0.985 and RM1.00. Meanwhile, it may continue moving sideways if it dips below the RM0.93 mark in the near term. In this case, the downside support is anticipated at RM0.885, whereby traders may exit on a breach to avoid the risk of a further correction.

Trading Call: Buy upon breakout above RM0.93

Target: RM0.985, RM1.00 (time frame: 3-6 weeks)

Exit: RM0.885

Source: AmInvest Research - 24 Feb 2020