Hartalega Holdings inched above the resistance level of RM5.09 in its latest session. With the momentum indicator RSI above 50%, it may continue to move towards the target price of RM5.27 followed by RM5.44. If it dips below RM5.09, expect a sideway consolidation again. In this case, support price is anticipated at RM4.92, whereby traders may exit on a breach to avoid the risk of a further correction.

Trading Call: Buy on continuation above RM5.09

Target: RM5.27, RM5.44 (time frame: 3-6 weeks)

Exit: RM4.92

Source: AmInvest Research - 30 Aug 2019