QL Resources retreated after failing to break above the resistance price of RM7.08. With the RSI level above 66%, the uptrend momentum may resume if it breaks above RM7.08 in upcoming sessions. If this happens, its short-term target price will be RM7.28 followed by RM7.46. Support is anticipated at RM6.90, whereby traders may exit on a breach to avoid the risk of a further correction.
Trading Call: Buy upon breakout above RM7.08
Target: RM7.28, RM7.46 (time frame: 3-6 weeks)
Exit: RM6.90
Source: AmInvest Research - 24 Sept 2019
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QLCreated by AmInvest | Nov 25, 2024