Teo Seng Capital has rebounded from its low to test the immediate resistance level of RM1.36. With a rising RSI, a bullish bias may be present above this mark with target prices of RM1.43 and RM1.47. If it dips below RM1.36, expect a sideway consolidation again. In this case, the immediate support is anticipated at RM1.30, whereby traders may exit on a breach to avoid the risk of a further correction.

Trading Call: Buy on continuation above RM1.36

Target: RM1.43, RM1.47 (time frame: 3-6 weeks)

Exit: RM1.30

Source: AmInvest Research - 19 Nov 2019