BIMB Holdings broke past the resistance price of RM4.10 in the latest session. With the momentum indicator RSI above 60%, it may continue to move towards the target price of RM4.23 followed by RM4.33. If it dips below RM4.10, expect a sideway consolidation again. In this case, the support price is anticipated at RM3.94, whereby traders may exit on a breach to avoid the risk of a further correction.
Trading Call: Buy on continuation above RM4.10
Target: RM4.23, RM4.33 (time frame: 3-6 weeks)
Exit: RM3.94
Source: AmInvest Research - 15 Oct 2019
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Created by AmInvest | Nov 25, 2024