British American Tobacco (Malaysia) has rebounded from its low to test the RM19.30 immediate resistance level. Higher trading volume was recorded in the latest session. With a rising RSI, a bullish bias may be present above this mark with target prices of RM20.74 and RM22.70. In this case, the immediate support is anticipated at RM17.50, whereby traders may exit on a breach to avoid the risk of a further correction.

Trading Call: Buy upon breakout above RM19.30
Target: RM20.74, RM22.70 (time frame: 3-6 weeks)
Exit: RM17.50

Source: AmInvest Research - 16 Oct 2019