BIMB Holdings printed a long white candle to test the RM4.19 resistance in its latest session. With a neutral RSI level, there is a possibility it will break above the resistance level and move towards target prices of RM4.36 and RM4.50. If it fails to cross above RM4.19, expect a sideway consolidation movement. Support is anticipated at RM4.05, whereby traders may exit on a breach to avoid the risk of a further correction.

Trading Call: Buy upon breakout above RM4.19

Target: RM4.36, RM4.50 (time frame: 3-6 weeks)

Exit: RM4.05

Source: AmInvest Research - 5 Aug 2019