Tiong Nam Logistics Holdings shot up and broke past the resistance price of RM0.58 in its lastest session. With an RSI above 70%, it may continue to climb higher towards short-term target prices of RM0.615 and RM0.655. Meanwhile, it may move sideways if it dips below RM0.58 in coming sessions. In this case, support price is anticipated at RM0.54, whereby traders may exit on a breach to avoid the risk of a further correction.

Trading Call: Buy on continuation above RM0.58

Target: RM0.615, RM0.655 (time frame: 3-6 weeks)

Exit: RM0.54

Source: AmInvest Research - 31 Jul 2019