DRB-Hicom has rebounded from its low to test the immediate resistance level of RM2.56. With a rising RSI, a bullish bias may be present above this mark with target prices of RM2.73 and RM2.90. Meanwhile, it may continue moving sideways if it fails to cross the RM2.56 mark in the near term. In this case, the immediate support is anticipated at RM2.39, whereby traders may exit on a breach to avoid the risk of a further correction. \

Trading Call: Buy on continuation above RM2.56
Target: RM2.73, RM2.90 (time frame: 3-6 weeks)
Exit: RM2.39

Source: AmInvest Research - 1 Nov 2019