RHB Bank may soon test the resistance level of RM5.94. With the momentum indicator RSI above 60%, there is a possibility it will break above the resistance level and move towards a target price of RM6.48 and RM6.90. Meanwhile, the support level is anticipated at RM5.60, whereby traders may exit on a breach to avoid the risk of a further correction.

Trading Call: Buy upon breakout above RM5.94

Target: RM6.48, RM6.90 (time frame: 3-6 weeks)

Exit: RM5.60

Source: AmInvest Research - 29 Apr 2019