Eversendai Corporation rebounded in the latest session. We observed that it has been highly traded in the past 10 sessions. There is a high probability it will break above the resistance level of RM0.505, and climb to a target price of RM0.55. Meanwhile, the immediate support is anticipated at RM0.465, whereby traders may exit on a breach to avoid the risk of a further correction.

Trading Call: Buy on favourable consolidation above RM0.505

Target: RM0.55 (time frame: 3-6 weeks)

Exit: RM0.465

Source: AmInvest Research - 5 Apr 2019