Focus Lumber sprang back to its support level after a sellldown in its recent session. With an RSI level above 60%, it may continue to climb above the resistance price of RM1.56. If this happens, its short-term target price will be RM1.63 followed by RM1.69. Support price is anticipated at RM1.50, whereby traders may exit on a breach to avoid the risk of a further correction.

Trading Call: Buy upon breakout above RM1.56

Target: RM1.63, RM1.69 (time frame: 3-6 weeks)

Exit: RM1.50

Source: AmInvest Research - 17 May 2019