Tomypak Holdings broke past the resistance price of RM0.52 in the latest session with higher trading volume. With the momentum indicator RSI above 60%, it may continue to move towards the target price of RM0.585 followed by RM0.64. If it dips below RM0.52, expect a sideways consolidation again. In this case, support price is anticipated at RM0.465, whereby traders may exit on a breach to avoid the risk of a further correction.

Trading Call: Buy on trend continuation above RM0.52

Target: RM0.585, RM0.64 (time frame: 3-6 weeks)

Exit: RM0.465

Source: AmInvest Research - 17 Apr 2019