Ranhill Holdings inched above the RM1.26 level in its latest session. With an RSI level above 65%, it may move higher above this mark with a target price of RM1.32, followed by RM1.38. Meanwhile, it may continue to drift sideways if it falls back below the RM1.26 mark in the near term. In this case, support is anticipated at RM1.20, whereby traders may exit on a breach to avoid the risk of a further correction.

Trading Call: Buy upon breakout above RM1.26

Target: RM1.32, RM1.38 (time frame: 3-6 weeks)

Exit: RM1.20

Source: AmInvest Research - 4 Jul 2019