Bursa Malaysia has rebounded from its low to test the immediate resistance level of RM6.22. With a rising RSI, a bullish bias may be present above this mark with the target prices of RM6.47 and RM6.65. Meanwhile, it may continue moving sideways if it fails to cross the RM6.22 mark in the near term. In this case, the immediate support is anticipated at RM6.04, whereby traders may exit on a breach to avoid the risk of a further correction.

Trading Call: Buy upon breakout above RM6.22

Target: RM6.47, RM6.65 (time frame: 3-6 weeks)

Exit: RM6.04

Source: AmInvest Research - 27 Sept 2019