Hai-O Enterprise has reached a new low during recent sessions. With the momentum indicator RSI approaching the oversold level, there is a possibilibity it will rebound above the immediate RM2.20 resistance with a short-term target price of RM2.28. On the downside, support is anticipated at RM2.13 whereby traders may exit on a breach to avoid the risk of a further correction.

Trading Call: Buy upon breakout above RM2.20

Target: RM2.28 (time frame: 3-6 weeks)

Exit: RM2.13

Source: AmInvest Research - 6 Aug 2019