Globetronics Technology was testing the RM2.46 level in its latest session. With a moderate RSI level, it may trend higher above this point with a target price of RM2.60, followed by RM2.90. Meanwhile, it may continue sideways if it fails to breach the RM2.46 mark in the near term. In this case, support is anticipated at RM2.30, whereby traders may exit on a breach to avoid the risk of a further correction.

Trading Call: Buy on further rebound above RM2.46

Target: RM2.60, RM2.90 (time frame: 3-6 weeks)

Exit: RM2.30

Source: AmInvest Research - 12 Oct 2018