BIMB Holdings has rebounded from its low after a technical hammer formation. Its immediate resistance level is RM4.22. With a rising RSI, a bullish bias may be present above this mark with a short-term target price of RM4.12. It may continue moving sideways if it fails to cross the RM4.22 mark in the near term. The downside support is anticipated at RM4.12, whereby traders may exit on a breach to avoid the risk of a further correction.

Trading Call: Buy upon breakout above RM4.22

Target: RM4.36 (time frame: 3-6 weeks)

Exit: RM4.12

Source: AmInvest Research - 3 Dec 2019