Prolexus has been range-bound during recent sessions. With the momentum indicator RSI above 50%, there is a possibility it will break above the resistance price of RM0.915, and move towards the target prices of RM0.97 and RM0.99. The immediate support is anticipated at RM0.825, whereby traders may exit on a breach to avoid the risk of a further consolidation.

Trading Call: Buy upon breakout above RM0.915

Target: RM0.97, RM0.99 (time frame: 3-6 weeks)

Exit: RM0.825

Source: AmInvest Research - 23 Oct 2019