Elsoft Research crossed the RM1.38 mark in its latest session. With a healthy RSI level, a bullish bias may be present above this point with a target price of RM1.47, followed by RM1.64. Meanwhile, it may turn sideways if it falls back below the RM1.38 ​​​​​​​mark in the near term. In this case, support is anticipated at RM1.28 whereby traders may exit on a breach to avoid the risk of a further correction.

Trading Call: Buy on uptrend continuation above RM1.38

Target: RM1.47, RM1.64 (time frame: 3-6 weeks)

Exit: RM1.28

Source: AmInvest Research - 16 Nov 2018