Eastern & Oriental may soon test the RM1.22 level after printing a white candle to close at its intraday high. It may rebound further above this point with a target price of RM1.31, followed by RM1.37. Meanwhile, it may continue moving sideways if it fails to breach the RM1.22 mark in the near term. In this case, support is anticipated at RM1.12, whereby traders may exit on a breach to avoid the risk of a further correction.

Trading Call: Buy on technical rebound above RM1.22

Target: RM1.31, RM1.37 (time frame: 3-6 weeks)

Exit: RM1.12

Source: AmInvest Research - 19 Oct 2018