Syarikat Takaful Malaysia Keluarga has been sold down during the recent sessions. As the RSI dipped below 20%, it has become oversold. As a hammer pattern formed at the bottom, it may rebound in the coming sessions if it breaks above the resistance price of RM6.16. If this happens, the short-term target price will be RM6.50. Support is anticipated at RM5.75, whereby traders may exit on a breach to avoid the risk of a further correction.

Trading Call: Buy upon breakout above RM6.16

Target: RM6.50 (time frame: 3-6 weeks)

Exit: RM5.75

Source: AmInvest Research - 6 Aug 2019