Oriental Food Industries Holdings surged past the resistance level RM0.84 in its latest session. As the momentum indicator RSI is above 50%, the short-term momentum could fetch a target level of RM0.905, followed by RM0.965. If it dips below RM0.84, it will continue to move sideways and consolidates. Support price is anticipated at RM0.78 whereby traders may exit on a breach to avoid the risk of a further correction.

Trading Call: Buy upon rebound above RM0.84

Target: RM0.905, RM0.965 (time frame: 3-6 weeks)

Exit: RM0.78

Source: AmInvest Research - 16 May 2019