Teo Seng Capital has been sold down and broke below the physcological level of RM1.10. With a neutral RSI, its uptrend momentum may resume if it breaks above the immediate resistance level of RM1.10 in upcoming sessions. If this happens, its short-term target price will be RM1.20 followed by RM1.29. Support level is anticipated at RM1.02, whereby traders may exit on a breach to avoid the risk of a further correction.

Trading Call: Buy upon breakout above RM1.10

Target: RM1.20, RM1.29 (time frame: 3-6 weeks)

Exit: RM1.02

Source: AmInvest Research - 28 May 2019