Muar Ban Lee was testing the all-time-high resistance level of RM1.39 in its recent session with higher trading volume.With an RSI above 60%, the short-term rebound could reach a target level of RM1.46, followed by RM1.52. If it fails to cross RM1.39, it will continue to move sideways and consolidates. Support level is anticipated at RM1.33 whereby traders may exit on a breach to avoid the risk of a further correction.

Trading Call: Buy upon breakout above RM1.39

Target: RM1.46, RM1.52 (time frame: 3-6 weeks)

Exit: RM1.33

Source: AmInvest Research - 30 May 2019