Chemical Company of Malaysia surged past the resistance price RM2.04 in its latest session with higher trading volume. With the momentum indicator RSI above 60%, the short-term momentum could reach a target price of RM2.19, followed by RM2.33. If it dips below RM2.04, it will continue to move sideways. Support price is anticipated at RM1.90 whereby traders may exit on a breach to avoid the risk of a further correction.

Trading Call: Buy on uptrend continuation above RM2.04

Target: RM2.19, RM2.33 (time frame: 3-6 weeks)

Exit: RM1.90

Source: AmInvest Research - 17 Apr 2019