Public Bank retreated after failing to break the resistance price of RM20.12. With an RSI level above 50%, its uptrend momentum may resume if it breaks above RM20.12 in upcoming sessions. If this happens, its short-term target price will be RM20.78 followed by RM21.44. Support is anticipated at RM19.46, whereby traders may exit on a breach to avoid the risk of a further correction.

Trading Call: Buy upon breakout above RM20.12
Target: RM20.78, RM21.44 (time frame: 3-6 weeks)
Exit: RM19.46

Source: AmInvest Research - 11 Nov 2019