RHB Bank broke past the resistance price of RM5.62 in its latest session with higher trading volume. With the momentum indicator RSI above 60%, the short-term momentum could reach a target price of RM5.88, followed by RM6.00. If it dips below RM5.62, it will again move sideways and consolidate. Support price is anticipated at RM5.50 whereby traders may exit on a breach to avoid the risk of a further correction.

Trading Call: Buy on continuation above RM5.62

Target: RM5.88, RM6.00 (time frame: 3-6 weeks)

Exit: RM5.50

Source: AmInvest Research - 28 Aug 2019