Kim Hin Joo (Malaysia) tested the RM0.32 resistance level in its latest session with higher trading volume. With a rising RSI, it may break above the resistance and move towards the target prices of RM0.355 and RM0.385. Meanwhile, it may move sideways if it fails to cross the RM0.32 mark in coming sessions. The downside support is anticipated at RM0.29, whereby traders may exit on a breach to avoid the risk of a further correction.

Trading Call: Buy upon breakout above RM0.32

Target: RM0.355, RM0.385 (time frame: 3-6 weeks)

Exit: RM0.29

Source: AmInvest Research - 18 Sept 2019