Tiong Nam Logistics Holdings was testing the RM0.465 level during its intraday high. With a neutral RSI level, it may move higher above this mark with a target price of RM0.50, followed by RM0.54. Meanwhile, it may drift sideways if it fails to cross the RM0.465 mark in the near term. In this case, support is anticipated at RM0.42, whereby traders may exit on a breach to avoid the risk of a further correction.

Trading Call: Buy upon breakout above RM0.465

Target: RM0.50, RM0.54 (time frame: 3-6 weeks)

Exit: RM0.42

Source: AmInvest Research - 4 Jul 2019