MMC Corporation surged and tested the RM0.73 resistance level. With its 21-day moving average pointing upwards, coupled with higher trading volume, we see that there is a possibility it will experience a technical breakout. If this happens, expect it to travel towards the short-term target prices of RM0.755 and RM0.775. The downside support is anticipated at RM0.705, whereby traders may exit on a breach to avoid the risk of a further correction

Trading Call: Buy on breakout RM0.73

Target: RM0.755, RM0.775 (time frame: 2-4 weeks)

Exit: RM0.705

Source: AmInvest Research - 25 Sept 2020