Engtex Group surged past the resistance price RM0.71 in its latest session with higher trading volume. With the momentum indicator RSI above 50%, the short-term momentum could reach a target price of RM0.75, followed by RM0.78. If it dips below RM0.71, it will continue to move sideways and consolidates. Support price is anticipated at RM0.68 whereby traders may exit on a breach to avoid the risk of a further correction.

Trading Call: Buy on continuation above RM0.71

Target: RM0.75, RM0.78 (time frame: 3-6 weeks)

Exit: RM0.68

Source: AmInvest Research - 5 Aug 2019