Telekom Malaysia may soon test the RM3.20 level. It may experience technical rebound above this point with a target price of RM3.50, followed by RM3.65. Meanwhile, it may turn sideways if it fails to breach the RM3.20 mark in the near term. In this case, support is anticipated at RM3.00 whereby traders may exit on a breach to avoid the risk of a further correction.

Trading Call: Buy on technical rebound above RM3.20

Target: RM3.50, RM3.65 (time frame: 3-6 weeks)

Exit: RM3.00

Source: AmInvest Research - 19 Sept 2018