RHB Bank rebounded higher and touched the resistance price of RM5.61 in its latest session. With a neutral RSI, the short-term trend could reach a target price of RM5.81, followed by RM5.91. If it fails to cross above RM5.61, it will move sideways and consolidate. Support price is anticipated at RM5.41 whereby traders may exit on a breach to avoid the risk of a further correction.

Trading Call: Buy upon breakout above RM5.61

Target: RM5.81, RM5.91 (time frame: 3-6 weeks)

Exit: RM5.41

Source: AmInvest Research - 13 Aug 2019