CCK Consolidated Holdings retreated after failing to break above the resistance price of RM0.535. With an RSI level above 50%, the uptrend momentum may resume if it breaks above RM0.535 in upcoming sessions. If this happens, its short-term target prices will be RM0.565 followed by RM0.61. Support is anticipated at RM0.49, whereby traders may exit on a breach to avoid the risk of a further correction.

Trading Call: Buy upon breakout above RM0.535

Target: RM0.565, RM0.61 (time frame: 3-6 weeks)

Exit: RM0.49

Source: AmInvest Research - 8 Oct 2019