Poh Huat Resources Holdings broke past the resistance price of RM1.49 in the latest session. With the momentum indicator RSI above 50%, it may continue to rise with the target price of RM1.56 followed by RM1.62. If it dips below RM1.49, expect a sideway consolidation. In this case, support price is anticipated at RM1.43, whereby traders may exit on a breach to avoid the risk of a further correction.

Trading Call: Buy upon breakout above RM1.49

Target: RM1.56, RM1.62 (time frame: 3-6 weeks)

Exit: RM1.43

Source: AmInvest Research - 17 Sept 2019