Deleum shot up and formed a long white candle in its lastest session with higher trading volume. With an RSI level above 70%, it may continue to climb above the resistance price of RM1.10. If this happens, its short-term target price will be RM1.14 followed by RM1.19. Support is anticipated at RM0.985, whereby traders may exit on a breach to avoid the risk of a further correction.

Trading Call: Buy upon breakout above RM1.10

Target: RM1.14, RM1.19 (time frame: 3-6 weeks)

Exit: RM0.985

Source: AmInvest Research - 26 Sept 2019