Success Transformer Corporation retreated after failing to break above the resistance price of RM1.03. With an RSI level above 60%, the uptrend momentum may resume if it breaks the resistance price of RM1.03 in upcoming sessions. If this happens, its short-term target price will be RM1.07 followed by RM1.13. Support is anticipated at RM0.96, whereby traders may exit on a breach to avoid the risk of a further correction.
Trading Call: Buy upon breakout above RM1.03
Target: RM1.07, RM1.13 (time frame: 3-6 weeks)
Exit: RM0.96
Source: AmInvest Research - 23 Sept 2019
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