Following the recent selldown in Bursa Malaysia, it is now oversold. We noticed that the latest black candle has a short lower shadow indicating some buying interest in the late session. With a moderate RSI, a bullish rebound may push it above RM6.92 with a target price of RM7.12, followed by RM7.23. Meanwhile, support is anticipated at RM6.81 whereby traders may exit on a breach to avoid the risk of a further correction.

Trading Call: Buy on further rebound above RM6.92

Target: RM7.12, RM7.23 (time frame: 3-6 weeks)

Exit: RM6.81

Source: AmInvest Research - 5 Apr 2019