Top Glove Corporation crossed above the RM11.00 level in its latest session. With the RSI level at 70, a bullish bias may be present above this mark with a target price of RM11.80, followed by RM12.33. Meanwhile, it may turn sideways if it dips back below the RM11.00 mark in the near term. In this case, the immediate support is anticipated at RM10.32, whereby traders may exit on a breach to avoid the risk of a further correction.

Trading Call: Buy on favourable consolidation above RM11.00

Target: RM11.80, RM12.33 (time frame: 3-6 weeks)

Exit: RM10.32

Source: AmInvest Research - 16 Oct 2018