Dufu Technology Corporation has been consolidating sideways in recent sessions. A bullish bias may be present if it breaks above the RM1.62 resistance level. If this happens, the shortterm target price will be RM1.79, followed by RM1.87. Meanwhile, it may continue to trade sideways if it fails to cross the RM1.62 mark. Support is then anticipated at RM0.53, whereby traders may exit on a breach to avoid the risk of a further correction.

Trading Call: Buy upon breakout above RM1.62

Target: RM1.79, RM1.87 (time frame: 3-6 weeks)

Exit: RM1.42

Source: AmInvest Research - 25 Jun 2019