Supermax Corporation surged past the resistance price RM1.64 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 RM1.76, followed by RM1.87. If it dips below RM1.64, it will continue to move sideways. The support price is anticipated at RM1.53 whereby traders may exit on a breach to avoid the risk of a further correction.
Trading Call: Buy on continuation above RM1.64
Target: RM1.76, RM1.87 (time frame: 2-4 weeks)
Exit: RM1.53
Source: AmInvest Research - 23 May 2019
Chart | Stock Name | Last | Change | Volume |
---|