Telekom Malaysia may soon test the RM3.25 resistance level. With a healthy RSI level, a bullish bias may be present above this point with a target price of RM3.46, followed by RM3.66. Meanwhile, it may continue to drift sideways if it fails to breach the RM3.25 level. In this case, the immediate support is anticipated at RM3.05, whereby traders may exit on a breach to avoid the risk of a further correction.

Trading Call: Buy on further rebound above RM3.25

Target: RM3.46, RM3.66 (time frame: 3-6 weeks)

Exit: RM3.05

Source: AmInvest Research - 1 Apr 2019