Karex printed a long white candle to breach the RM0.63 mark in its latest session, while higher trading volume was recorded. Since the momentum indicator RSI has moved above 60%, there is a possibilibity it will contnue to rise towards target price of RM0.725 followed by RM0.805. On the downside, support price is anticipated at RM0.55 whereby traders may exit on a breach to avoid the risk of a further correction.

Trading Call: Buy upon breakout above RM0.63

Target: RM0.725, RM0.805 (time frame: 3-6 weeks)

Exit: RM0.55

Source: AmInvest Research - 2 May 2019