Ranhill Holdings broke past the resistance price of RM1.39 in the latest session. With the momentum indicator RSI above 60%, it may continue to move towards the target price of RM1.51 followed by RM1.61. If it dips below RM1.39, expect a sideway consolidation again. In this case, support price is anticipated at RM1.29, whereby traders may exit on a breach to avoid the risk of a further correction.

Trading Call: Buy on continuation above RM1.39

Target: RM1.51, RM1.61 (time frame: 3-6 weeks)

Exit: RM1.29

Source: AmInvest Research - 27 Aug 2019