Globetronics Technology has been consolidating sideways during the last few sessions, with an immediate resistance price of RM1.82. With an RSI above 50%, it may break the resistance level, and move towards target prices of RM1.93 and RM2.00. In this case, support is anticipated at RM1.72, whereby traders may exit on a breach to avoid the risk of a further correction.

Trading Call: Buy upon breakout above RM1.82

Target: RM1.93, RM2.00 (time frame: 3-6 weeks)

Exit: RM1.72

Source: AmInvest Research - 23 Jul 2019