Hai-O Enterprise crossed the RM2.40 resistance level in its latest session. With an RSI level above 70%, the bullish momentum may continue towards the target price of RM2.51, followed by RM2.59. Meanwhile, it may trend sideways if it falls back below the RM2.40 level in the near term. In this case, the immediate support is anticipated at RM2.32, whereby traders may exit on a breach to avoid the risk of a further correction.

Trading Call: Buy on continuation above RM2.40

Target: RM2.51, RM2.59 (time frame: 3-6 weeks)

Exit: RM2.32

Source: AmInvest Research - 18 Sept 2019