RHB Bank has been consolidating sideways during the last few sessions, with an immediate resistance price of RM5.68. With an RSI above 50%, it may break the resistance level in THE upcoming session. If this happens, the short-term target prices will be RM5.84 and RM6.01. In this case, support is anticipated at RM5.53, whereby traders may exit on a breach to avoid the risk of a further correction.

Trading Call: Buy upon breakout above RM5.68

Target: RM5.84, RM6.01 (time frame: 3-6 weeks)

Exit: RM5.53

Source: AmInvest Research - 8 Oct 2019