Karex is currently in a consolidation period and may soon test the RM0.46 resistance level. It may trend higher upon a successful breach above this point with a target price of RM0.51, followed by RM0.56. Meanwhile, it may continue to drift sideways if it fails to cross above the RM0.46 mark. In this case, support is anticipated at RM0.415, whereby traders may exit on a breach to avoid the risk of a further correction.

Trading Call: Buy on favourable consolidation above RM0.46

Target: RM0.51, RM0.56 (time frame: 3-6 weeks)

Exit: RM0.415

Source: AmInvest Research - 28 Mar 2019