Mynews Holdings has climbed higher from its low to test the immediate resistance level of RM1.48. With an RSI above 60%, a bullish momentum may pick up above the resistance with target prices of RM1.56 and RM1.66. Meanwhile, it may continue moving sideways if it fails to cross RM1.48 in the near term. The downside support is anticipated at RM1.40, whereby traders may exit on a breach to avoid the risk of a further correction.

Trading Call: Buy upon breakout above RM1.48

Target: RM1.56, RM1.66 (time frame: 3-6 weeks)

Exit: RM1.40

Source: AmInvest Research - 13 Aug 2019