Paramount Corporation broke past the resistance level of RM2.30 in the latest session and challenging the all-time high. With the RSI above 70%, it may continue to move towards the short-term target price of RM2.40 followed by RM2.47. If it dips below RM2.30, expect a sideway consolidation again. In this case, support price is anticipated at RM2.23, whereby traders may exit on a breach to avoid the risk of a further correction.
Trading Call: Buy on continuation above RM2.30
Target: RM2.40, RM2.47 (time frame: 3-6 weeks)
Exit: RM2.23
Source: AmInvest Research - 11 Jul 2019
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