DRB-Hicom inched above the resistance price of RM2.67. With a rising RSI level, a bullish bias may be present above this mark with a target price of RM2.82 followed by RM3.00. Meanwhile, it may continue trending sideways if it falls back below the RM2.67 mark in the near term. In this case, support price is anticipated at RM2.50 whereby traders may exit on a breach to avoid the risk of a further correction.

Trading Call: Buy on further uptrend above RM2.67

Target: RM2.82, RM3.00 (time frame: 3-6 weeks)

Exit: RM2.50

Source: AmInvest Research - 16 Aug 2019