Bermaz Auto has been consolidating sideways during the last few sessions, with an immediate resistance price of RM2.43. With an RSI above 50%, it may break the resistance level. If this happens, the short-term target price will be RM2.60 and RM2.77. In this case, support is anticipated at RM2.26, whereby traders may exit on a breach to avoid the risk of a further correction.

Trading Call: Buy upon breakout above RM2.43

Target: RM2.60, RM2.77 (time frame: 3-6 weeks)

Exit: RM2.26

Source: AmInvest Research - 7 Jun 2019