Kossan Rubber Industries closed higher in its latest session. With an RSI above 60%, there is a possibility it will break above the RM4.14 resistance price and move towards the target price of RM4.40. If it fails to cross RM4.14, it will continue to move sideways and consolidate. Support price is anticipated at RM3.94 whereby traders may exit on a breach to avoid the risk of a further correction.

Trading Call: Buy upon breakout above RM4.14

Target: RM4.40 (time frame: 3-6 weeks)

Exit: RM3.94

Source: AmInvest Research - 8 Aug 2019