Malayan Flour Mills rose and touched the RM0.835 resistance level. With its 21-day moving average pointing upward, coupled with a higher trading volume, there is a good chance that it would experience a technical breakout and head towards the short-term target price of RM0.88, followed by RM0.905. The downside support is marked at RM0.775. Traders are advised to exit on a breach to avoid further losses.

Trading Call: Buy on breakout RM0.835

Target: RM0.88, RM0.905 (time frame: 2-4 weeks)

Exit: RM0.775
 

Source: AmInvest Research - 14 Sept 2021