Poh Kong Holdings has been consolidating sideways during recent sessions, with an immediate resistance price of RM0.535. With a rising RSI, it may soon break RM0.535. If this happens, the short-term target price will be RM0.565 followed by RM0.595. In this case, support is anticipated at RM0.505, whereby traders may exit on a breach to avoid the risk of a further correction.

Trading Call: Buy upon breakout above RM0.535

Target: RM0.565, RM0.595 (time frame: 3-6 weeks)

Exit: RM0.505

Source: AmInvest Research - 28 Aug 2019