Ho Hup Construction Company inched above the RM0.545 level in its latest session. With a rising RSI, it may move higher above this mark with a target price of RM0.58, followed by RM0.60. Meanwhile, it may continue to drift sideways if it falls back below the RM0.545 mark in the near term. In this case, support is anticipated at RM0.51, whereby traders may exit on a breach to avoid the risk of a further correction.

Trading Call: Buy upon breakout above RM0.545

Target: RM0.58, RM0.60 (time frame: 3-6 weeks)

Exit: RM0.51

Source: AmInvest Research - 2 Dec 2019