Mah Sing Group surged and tested the RM0.82 resistance level. With its 21-day moving average indicator in an uptrend, coupled with a higher trading volume, we see a possibility for a technical breakout. If this happens, we expect it to move towards the short-term target prices of RM0.855 and RM0.88. The downside support is projected at RM0.76. Traders are advised to exit on a breach to avoid further losses.

Trading Call: Buy on breakout RM0.82

Target: RM0.855, RM0.88 (time frame: 2-4 weeks)

Exit: RM0.76
 

Source: AmInvest Research - 29 Oct 2021