Dufu Technology Corp surged past the resistance price of RM1.92 in its latest session with higher trading volume. With the momentum indicator RSI above 60%, the short-term momentum could reach a target price of RM2.06, followed by RM2.20. If it dips below RM1.92, it will move sideways and consolidate. Support price is anticipated at RM1.80 whereby traders may exit on a breach to avoid the risk of a further correction.
Trading Call: Buy on continuation above RM1.92
Target: RM2.06, RM2.20 (time frame: 3-6 weeks)
Exit: RM1.80
Source: AmInvest Research - 9 Aug 2019
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