Johore Tin broke past the resistance price of RM1.54 in the latest session. With the momentum indicator RSI above 60%, it may continue to move towards the target price of RM1.65 followed by RM1.71. If it dips below RM1.54, expect a sideway consolidation again. In this case, 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 on continuation above RM1.54
Target: RM1.65, RM1.71 (time frame: 3-6 weeks)
Exit: RM1.48
Source: AmInvest Research - 2 Dec 2019
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Created by AmInvest | Nov 25, 2024