Puncak Niaga Holdings was testing the RM0.40 mark during its intraday high. With a healthy RSI level, a bullish bias may be present above this point with a target price of RM0.425, followed by RM0.445. Meanwhile, it may continue trending sideways if it fails to breach the RM0.40 mark in the near term. In this case, support is anticipated at RM0.365 whereby traders may exit on a breach to avoid the risk of a further correction.

Trading Call: Buy on further rebound above RM0.40

Target: RM0.425, RM0.445 (time frame: 3-6 weeks)

Exit: RM0.365

Source: AmInvest Research - 8 Mar 2019