Foundpac Group was testing the resistance level of RM0.34 during its intraday high. With a neutral RSI, it may move higher above this mark with a short-term target price of RM0.38 followed by RM0.415. Meanwhile, it may drift sideways if it fails to cross the RM0.34 mark in the near term. In this case, the support level is anticipated at RM0.305, whereby traders may exit on a breach to avoid the risk of a further correction.

Trading Call: Buy upon rebound above RM0.34

Target: RM0.38, RM0.415 (time frame: 3-6 weeks)

Exit: RM0.305

Source: AmInvest Research - 29 May 2019