Elsoft Research broke the RM1.11 level in its latest session. With a rising RSI level, it may move higher above this point with a target price of RM1.18, followed by RM.127. Meanwhile, it may continue trending sideways if it dips back below the RM1.11 mark in the near term. In this case, support is anticipated at RM1.02, whereby traders may exit on a breach to avoid the risk of a further correction.

Trading Call: Buy on further rebound above RM1.11

Target: RM1.18, RM1.27 (time frame: 3-6 weeks)

Exit: RM1.02

Source: AmInvest Research - 18 Jan 2019