Kronologi Asia rebounded from its low to test the resistance level of RM0.565 in its latest session. With a rising RSI level, the bullish momentum may continue and move towards a target price of RM0.615 followed by RM0.66. Meanwhile, it may turn sideways if it fails to close above RM0.565 in the near term. In this case, support is anticipated at RM0.52 whereby traders may exit on a breach to avoid the risk of a further correction.

Trading Call: Buy upon breakout above RM0.565

Target: RM0.615, RM0.66 (time frame: 3-6 weeks)

Exit: RM0.52

Source: AmInvest Research - 3 Jun 2019