British American Tobacco has been consolidating range-bound during recent sessions. As the momentum indicator RSI has moved above 60%, there is a possibilibity it will break the immediate resistance of RM29.50, with a target price of RM30.60 followed by RM31.60. On the downside, support price is anticipated at RM28.56 whereby traders may exit on a breach to avoid the risk of a further correction.

Trading Call: Buy upon breakout above RM29.50

Target: RM30.60, RM31.60 (time frame: 3-6 weeks)

Exit: RM28.56

Source: AmInvest Research - 10 Jul 2019