Mah Sing Group retraced to oversold region with immediate resistance level RM0.48. Noticed that it had a high trading volume in latest session. We foresee that there could be a technical rebound if price pierce trhough the resistance level. If this happens, the short-term target prices will be RM0.525 followed by RM0.56. In this case, the downside support is anticipated at RM0.445, whereby traders may exit on a breach to avoid the risk of a further correction

Trading Call: Buy on breakout RM0.48

Target: RM0.525, RM0.56 (time frame: 3-6 weeks)

Exit: RM0.445

Source: AmInvest Research - 16 Mar 2020