UCHI Techologies gapped up and tested the resistance level of RM2.87 with higher trading volume in its latest session. With the momentum indicator RSI above 60%, it may break above the resistance, and move towards a target price of RM3.06 and RM3.24. Meanwhile, the immediate support is anticipated at RM2.69, whereby traders may exit on a breach to avoid the risk of a further correction.

Trading Call: Buy upon breakout above RM2.87

Target: RM3.06, RM3.24 (time frame: 3–6 weeks)

Exit: RM2.69

Source: AmInvest Research - 23 Apr 2019