CAB Cakaran Coporation was testing the RM0.605 level during its intraday high. Note that as the momentum indicator RSI is above 60%, there is a possibilibity it will break the immediate resistance of RM0.605, and move towards the target price of RM0.655 followed by RM0.70. On the downside, support price is anticipated at RM0.56 whereby traders may exit on a breach to avoid the risk of a further correction.
Trading Call: Buy upon breakout above RM0.605
Target: RM0.655, RM0.70 (time frame: 3-6 weeks)
Exit: RM0.56
Source: AmInvest Research - 16 May 2019
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