Magni-Tech Industries surged and tested the RM2.35 resistance level. With its RSI indicator pointing upwards, 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 RM2.48 and RM2.52. The downside support is anticipated at RM2.25, whereby traders may exit on a breach to avoid the risk of a further correction

Trading Call: Buy near RM2.35

Target: RM2.48, RM2.52 (time frame: 2-4 weeks)

Exit: RM2.25

Source: AmInvest Research - 8 Oct 2020