MMC Corporation jumped and touched the RM0.87 resistance level. With its higher high candle stick pattern, coupled with higher trading volume, there is a good chance it will break out and head towards the short-term target price of RM0.90, followed by RM0.93. The downside support is marked at RM0.835. Traders are advised to exit on a breach to avoid further losses.
Trading Call: Buy on breakout RM0.87
Target: RM0.90, RM0.93 (time frame: 2-4 weeks)
Exit: RM0.835
Source: AmInvest Research - 18 Nov 2020
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Created by AmInvest | Jul 26, 2024