UEM Edgenta broke past the resistance price of RM3.06 in the latest session with high volumes. With the momentum indicator RSI above 60%, it may continue to move towards the target price of RM3.24 followed by RM3.34. If it dips below RM3.06, expect a sideway consolidation again. In this case, support price is anticipated at RM2.96, whereby traders may exit on a breach to avoid the risk of a further correction.

Trading Call: Buy on continuation above RM3.06

Target: RM3.24, RM3.34 (time frame: 3-6 weeks)

Exit: RM2.96

Source: AmInvest Research - 23 Aug 2019