Hartalega Holdings breached the RM5.40 level in its latest session. With a moderate RSI level, a bullish bias may be present above this point with a target price of RM5.80, followed by RM6.40. Meanwhile, it may turn sideways if it falls back below the RM5.40 mark in the near term. In this case, support is anticipated at RM4.97 whereby traders may exit on a breach to avoid the risk of a further correction.

Trading Call: Buy on further rebound RM5.40

Target: RM5.80, RM6.40 (time frame: 3-6 weeks)

Exit: RM4.97

Source: AmInvest Research - 23 Jan 2019