Merge Energy crossed above the RM0.875 mark in its latest session. With a rising RSI level, a bullish bias may be present above this point with a target price of RM0.95, followed by RM1.00. Meanwhile, it may turn sideways if it dips back below the RM0.875 mark in the near term. In this case, support is anticipated at RM0.80 whereby traders may exit on a breach to avoid the risk of a further correction.

Trading Call: Buy on further uptrend above RM0.875

Target: RM0.95, RM1.00 (time frame: 3-6 weeks)

Exit: RM0.80

Source: AmInvest Research - 27 Nov 2018