Chin Well Holdings retreated after failing to break above the resistance level of RM1.84. With the RSI level above 50%, its uptrend momentum may resume if it breaks above the resistance level of RM1.84 in upcoming sessions. If this happens, its shortterm target price will be RM1.91 followed by RM1.97. Support price is anticipated at RM1.78, whereby traders may exit on a breach to avoid the risk of a further correction.

Trading Call: Buy upon breakout above RM1.84

Target: RM1.91, RM1.97 (time frame: 3-6 weeks)

Exit: RM1.78

Source: AmInvest Research - 23 May 2019