Pentamaster Corporation surged past the resistance level of RM3.05 at the latest session. With the momentum indicator RSI above 65%, the bullish momentum may continue and move towards a target price of RM3.20 followed by RM3.30. If it dips below RM3.05, it will move sideways for consolidation. The immediate support is anticipated at RM2.94, whereby traders may exit on a breach to avoid the risk of a further consolidation.
Trading Call: Buy on continuation above RM3.05
Target: RM3.20, RM3.30 (time frame: 3-6 weeks)
Exit: RM2.94
Source: AmInvest Research - 5 Jul 2019
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