Ahmad Zaki Resources surged past the resistance price of RM0.425 in its latest session with higher trading volume. With the momentum indicator RSI above 50%, the short-term momentum could reach a target price of RM0.485. If it dips below RM0.425, it will continue to move sideways and consolidates. Support price is anticipated at RM0.39 whereby traders may exit on a breach to avoid the risk of a further correction.

Trading Call: Buy upon breakout above RM0.425

Target: RM0.485 (time frame: 3-6 weeks)

Exit: RM0.39

Source: AmInvest Research - 11 Jun 2019