Uchi Technologies rebounded higher and tested the RM2.87 level during its intraday high. With an RSI level above 60%, it may continue to move higher above this mark with a target price of RM2.95, followed by RM3.05. Meanwhile, it may drift sideways if it fails to cross the RM2.87 mark in the near term. In this case, support is anticipated at RM2.77, whereby traders may exit on a breach to avoid the risk of a further correction.

Trading Call: Buy upon breakout above RM2.87

Target: RM2.95, RM3.05 (time frame: 3-6 weeks)

Exit: RM2.77

Source: AmInvest Research - 29 Aug 2019