Malayan Flour Mills surged and touched the RM0.80 resistance level. With its RSI indicator moving upward, coupled with higher trading volume, there is a good chance that it would experience a technical breakout and head towards the short-term target price of RM0.835, followed by RM0.865. The downside support is marked at RM0.735. Traders are advised to exit on a breach to avoid further losses.

Trading Call: Buy on breakout RM0.80

Target: RM0.835, RM0.865 (time frame: 2-4 weeks)

Exit: RM0.735
 

Source: AmInvest Research - 15 Oct 2021