Teo Seng Capital has been range-bound during recent sessions. With the momentum indicator RSI rising above 50%, there is a possibility it will break above the resistance price of RM1.13, and move towards the target prices of RM1.21 and RM1.27. The immediate support is anticipated at RM1.07, whereby traders may exit on a breach to avoid the risk of a further consolidation.

Trading Call: Buy upon breakout above RM1.13

Target: RM1.21, RM1.27 (time frame: 3-6 weeks)

Exit: RM1.07

Source: AmInvest Research - 18 Sept 2019