Coastal Contracts may soon test the RM1.22 resistance level. With a rising RSI, a bullish bias may be present above this mark with short-term target prices of RM1.33 and RM1.44. It may continue moving sideways if it fails to cross RM1.22 in the near term. Support is then anticipated at RM1.11, whereby traders may exit on a breach to avoid the risk of a further correction

Trading Call: Buy upon breakout above RM1.22

Target: RM1.33, RM1.44 (time frame: 3-6 weeks)

Exit: RM1.11

Source: AmInvest Research - 7 Nov 2019