Reach Energy surged past the RM0.215 resistance price in its latest session with higher trading volume. With the momentum indicator RSI above 60%, the short-term momentum could reach a target price of RM0.24, followed by RM0.265. If it dips below RM0.215, it will continue to move sideways and consolidate. The support price is anticipated at RM0.19 whereby traders may exit on a breach to avoid the risk of a further correction.

Trading Call: Buy on continuation above RM0.215

Target: RM0.24, RM0.265 (time frame: 3-6 weeks)

Exit: RM0.19

Source: AmInvest Research - 24 Sept 2019