Teo Seng Capital has been consolidating range-bound during recent sessions. As the momentum indicator RSI has moved above 60%, there is a possibilibity it will break the immediate resistance of RM1.40, with target prices of RM1.47 and RM1.54. It will continue moving sideways if it fails to break the resistance soon. The support price is anticipated at RM1.33 whereby traders may exit on a breach to avoid the risk of a further correction.

Trading Call: Buy upon breakout above RM1.40

Target: RM1.47, RM1.54 (time frame: 3-6 weeks)

Exit: RM1.33

Source: AmInvest Research - 6 Dec 2019