RHB Bank rebounded from its low and tested the resistance level of RM5.64. With a rising RSI, a bullish bias may be present above this mark with a target price of RM5.91 followed by RM6.17. If it fails to cross RM5.64, it will continue to move sideways and consolidate. Support price is anticipated at RM5.33 whereby traders may exit on a breach to avoid the risk of a further correction.

Trading Call: Buy upon breakout above RM5.64

Target: RM5.91, RM6.17 (time frame: 3-6 weeks)

Exit: RM5.33

Source: AmInvest Research - 24 Jun 2019