Merge Energy crossed the RM0.83 mark to mark a new high. With a healthy RSI level, a bullish bias may be present above this point with a target price of RM0.90, followed by RM0.95. Meanwhile, it may turn sideways if it dips back below the RM0.83 mark in the near term. In this case, support is anticipated at RM0.76 whereby traders may exit on a breach to avoid the risk of a further correction.

Trading Call: Buy on further uptrend above RM0.83

Target: RM0.90, RM0.95 (time frame: 3-6 weeks)

Exit: RM0.76

Source: AmInvest Research - 13 Nov 2018