Matrix Concepts Holdings broke past the resistance price of RM1.94 in the latest session. With the momentum indicator RSI above 70%, it may continue to move towards the target price of RM2.00 followed by RM2.04. If it dips below RM1.94, expect a sideway consolidation again. In this case, support price is anticipated at RM1.90, whereby traders may exit on a breach to avoid the risk of a further correction.

Trading Call: Buy on continuation above RM1.94

Target: RM2.00, RM2.04 (time frame: 3-6 weeks)

Exit: RM1.90

Source: AmInvest Research - 18 Nov 2019