UEM Edgenta surged past the RM3.00 resistance in its latest session and challenging its 2-year high. With an RSI above 70%, the short-term bullish momentum could reach the next target price of RM3.15, followed by RM3.20. If it dips below RM3.00, it will again move sideways and consolidate. In this case, the support price is anticipated at RM2.92 whereby traders may exit on a breach to avoid the risk of a further correction.

Trading Call: Buy on continuation above RM3.00

Target: RM3.15, RM3.20 (time frame: 3-6 weeks)

Exit: RM2.92

Source: AmInvest Research - 29 Jul 2019