Guan Chong crossed above the RM2.50 level during its latest session. With a rising RSI level, a bullish bias may be present above this mark with a target price of RM2.77, followed by RM2.88. Meanwhile, it may turn sideways if it dips back below the RM2.50 mark in the near term. In this case, the immediate support is anticipated at RM2.33, whereby traders may exit on a breach to avoid the risk of a further correction.

Trading Call: Buy on further uptrend above RM2.50

Target: RM2.77, RM2.88 (time frame: 3-6 weeks)

Exit: RM2.33

Source: AmInvest Research - 8 Nov 2018