Lay Hong crossed the RM0.675 level in its recent session. With a healthy RSI level, a bullish bias may be present above this point with a target price of RM0.76, followed by RM0.81. Meanwhile, it may continue trending sideways if it falls back below the RM0.675 mark in the near term. In this case, support is anticipated at RM0.63 whereby traders may exit on a breach to avoid the risk of a further correction.

Trading Call: Buy on further rebound above RM0.675

Target: RM0.76, RM0.81 (time frame: 3-6 weeks)

Exit: RM0.63

Source: AmInvest Research - 25 Sept 2018