Globetronics Technology leapt above the resistance price of RM1.90 in the latest session. With the momentum indicator RSI above 60%, it may continue to move towards the near-term target price of RM2.02 followed by RM2.13. On the downside, support price is anticipated at RM1.79, whereby traders may exit on a breach to avoid the risk of a further correction.

Trading Call: Buy on trend continuation above RM1.90

Target: RM2.02, RM2.13 (time frame: 3-6 weeks)

Exit: RM1.79

Source: AmInvest Research - 16 Apr 2019