Foundpac Group was testing the RM0.30 level in its latest session. With a neutral RSI level, it may trend higher above this mark with a target price of RM0.34, followed by RM0.355. Meanwhile, it may continue moving sideways if it fails to cross the RM0.30 mark in the near term. In this case, support is anticipated at RM0.265, whereby traders may exit on a breach to avoid the risk of a further correction.

Trading Call: Buy on further rebound above RM0.30

Target: RM0.34, RM0.355 (time frame: 3-6 weeks)

Exit: RM0.265

Source: AmInvest Research - 18 Sept 2018