CAB Cakaran Corporation breached the RM0.555 level in its latest session. With a moderate RSI level, it may move higher above this mark with a target price of RM0.63. Meanwhile, it may continue to drift sideways if it dips back below the RM0.555 mark in the near term. In this case, support is anticipated at RM0.515, whereby traders may exit on a breach to avoid the risk of a further correction.
Trading Call: Buy on further rebound above RM0.555
Target: RM0.63 (time frame: 3-6 weeks)
Exit: RM0.515
Source: AmInvest Research - 12 Feb 2019
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