P.I.E. Industrial leapt above the resistance price of RM1.44 in the latest session. With the momentum indicator RSI above 65%, it may continue to move towards the near-term target price of RM1.52 followed by RM1.56. Meanwhile, it may move sideways if it falls back below the RM1.44 mark in the near term. Th downside support price is anticipated at RM1.35, whereby traders may exit on a breach to avoid the risk of a further correction.

Trading Call: Buy on continuation above RM1.44

Target: RM1.52, RM1.56 (time frame: 3-6 weeks)

Exit: RM1.35

Source: AmInvest Research - 22 Oct 2019