Teo Seng Capital broke past the resistance level of RM1.14 in the latest session. With the momentum indicator RSI above 60%, it may continue to move towards the target price of RM1.22 followed by RM1.32. If it dips below RM1.14, expect a sideway consolidation again. In this case, support price is anticipated at RM1.04, whereby traders may exit on a breach to avoid the risk of a further correction.

Trading Call: Buy on continuation above RM1.14

Target: RM1.22, RM1.32 (time frame: 3-6 weeks)

Exit: RM1.04

Source: AmInvest Research - 3 Jul 2019