Lay Hong was testing the RM0.41 level and the 21-day SMA line in its latest session. With a neutral RSI level, it may trend higher above this point with a target price of RM0.46. Meanwhile, it may trend sideways if it fails to breach the RM0.41 mark in the near term. In this case, support is anticipated at RM0.38, whereby traders may exit on a breach to avoid the risk of a further correction.

Trading Call: Buy on technical rebound above RM0.41

Target: RM0.46 (time frame: 3-6 weeks)

Exit: RM0.38

Source: AmInvest Research - 14 Nov 2018