Hartalega Holdings surged past the resistance level of RM5.33 in the latest session. With the momentum indicator RSI above 60%, the bullish momentum may continue and move towards a target price of RM5.55 followed by RM5.21. If it dips below RM5.55, it will move sideways for further consolidation. Support is anticipated at RM5.21, whereby traders may exit on a breach to avoid the risk of a further consolidation.

Trading Call: Buy on continuation above RM5.33

Target: RM5.55, RM5.61 (time frame: 3-6 weeks)

Exit: RM5.21

Source: AmInvest Research - 4 Nov 2019