Kawan Food retreated after failing to break above the resistance price of RM1.56. With an RSI level above 60%, the uptrend momentum may resume if it breaks above the resistance price of RM1.56 in upcoming sessions. If this happens, its short-term target price will be RM1.65 followed by RM1.73. The support price is anticipated at RM1.48, whereby traders may exit on a breach to avoid the risk of a further correction.

Trading Call: Buy upon breakout above RM1.56
Target: RM1.65, RM1.73 (time frame: 3-6 weeks)
Exit: RM1.48

Source: AmInvest Research - 25 Nov 2019