SKP Resources may soon test the RM1.29 level in its latest session. With a healthy RSI level, it may move higher above this mark with a target price of RM1.40, followed by RM1.45. Meanwhile, it may drift sideways if it fails to cross the RM1.29 mark in the near term. In this case, support is anticipated at RM1.19, whereby traders may exit on a breach to avoid the risk of a further correction.

Trading Call: Buy on further rebound above RM1.29

Target: RM1.40, RM1.45 (time frame: 3-6 weeks)

Exit: RM1.19

Source: AmInvest Research - 16 Oct 2018