SKP Resources has been consolidating range-bound during recent sessions. Higher trading volume was recorded in the latest session. As the momentum indicator RSI is above 50%, there is a possibilibity it will break the immediate resistance of RM1.26, with a target price of RM1.36 followed by RM1.40. On the downside, the support price is anticipated at RM1.19 whereby traders may exit on a breach to avoid the risk of a further correction.

Trading Call: Buy upon breakout above RM1.26

Target: RM1.36, RM1.40 (time frame: 3-6 weeks)

Exit: RM1.19

Source: AmInvest Research - 5 Dec 2019