CAB Cakaran Corporation has rebounded from its low to test the immediate resistance level of RM0.505. With an RSI staying above 60%, a bullish bias may be present above this mark with the target prices of RM0.54 and RM0.60. Meanwhile, it may continue moving sideways if it fails to cross RM0.505 in the near term. Support is anticipated at RM0.445, whereby traders may exit on a breach to avoid the risk of a further correction.

Trading Call: Buy upon breakout above RM0.505
Target: RM0.54, RM0.60 (time frame: 3-6 weeks)
Exit: RM0.445

Source: AmInvest Research - 31 Oct 2019