Techfast Holdings surged past the resistance level of RM0.31 in its latest session with higher trading volume. With the momentum indicator RSI above 60%, this short-term momentum could continue to reach target levels of RM0.345 and RM0.375. It may lose its bullish momentum if it dips below RM0.31. In this case, support level is anticipated at RM0.28, whereby traders may exit on a breach to avoid the risk of a further correction.

Trading Call: Buy upon breakout above RM0.31

Target: RM0.345, RM0.375 (time frame: 3-6 weeks)

Exit: RM0.28

Source: AmInvest Research - 26 Jun 2019