Lotte Chemical Titan Holdings retreated after failing to break above the resistance level of RM3.10. With a rising RSI, its uptrend momentum may resume if it breaks above the resistance level in upcoming sessions. If this happens, its short-term target price will be RM3.36 followed by RM3.61. Support level is anticipated at RM2.85, whereby traders may exit on a breach to avoid the risk of a further correction.

Trading Call: Buy upon breakout above RM3.10

Target: RM3.36, RM3.61 (time frame: 4-8 weeks)

Exit: RM2.85

Source: AmInvest Research - 17 Jun 2019