Tadmax Resources surged past the resistance price RM0.255 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 RM0.29, followed by RM0.32. If it dips below RM0.255, it will continue to move sideways and consolidates. Support price is anticipated at RM0.225 whereby traders may exit on a breach to avoid the risk of a further correction.

Trading Call: Buy upon breakout above RM0.255

Target: RM0.29, RM0.32 (time frame: 2-4 weeks)

Exit: RM0.225

Source: AmInvest Research - 9 May 2019