Mega First Corporation fell sharply lower in its latest session with high trading volume. Currently, its share price is in the oversold region with an immediate resistance of RM4.00. If there’s a technical rebound above the resistance level, the next short-term target prices will be RM4.20 and RM4.48. The downside support is anticipated at RM3.84, whereby traders may exit on a breach to avoid the risk of a further correction

Trading Call: Buy on breakout RM4.00

Target: RM4.20, RM4.48 (time frame: 3-6 weeks)

Exit: RM3.84

Source: AmInvest Research - 17 Mar 2020