Bermaz Auto retreated after failing to break above the resistance price of RM2.43. With the RSI level above 60%, the uptrend momentum may resume if it breaks above the resistance price of RM2.43 in upcoming sessions. If this happens, its short-term target price will be RM2.60 followed by RM2.77. Support price is anticipated at RM2.26, whereby traders may exit on a breach to avoid the risk of a further correction.

Trading Call: Buy on consolidation above RM2.43

Target: RM2.6, RM2.77 (time frame: 3-6 weeks)

Exit: RM2.26

Source: AmInvest Research - 16 Apr 2019