Boilermech Holdings retreated after failing to break above the resistance price of RM0.625. With a neutral RSI, the uptrend momentum may resume if it breaks above the resistance price of RM0.625 in upcoming sessions. If this happens, its short-term target price will be RM0.655 followed by RM0.68. Support is anticipated at RM0.595, whereby traders may exit on a breach to avoid the risk of a further correction.

Trading Call: Buy upon breakout above RM0.625
Target: RM0.655, RM0.68 (time frame: 3-6 weeks)
Exit: RM0.595

Source: AmInvest Research - 26 Nov 2019