Hartalega Holdings has rebounded from its low to test the immediate resistance level of RM5.23. With a rising RSI, a bullish bias may be present above this mark with target prices of RM5.38 and RM5.50. If it fails to cross above RM5.23, expect a sideway consolidation. In this case, the immediate support is anticipated at RM5.08, whereby traders may exit on a breach to avoid the risk of a further correction.

Trading Call: Buy upon breakout above RM5.23
Target: RM5.38, RM5.50 (time frame: 3-6 weeks)
Exit: RM5.08

Source: AmInvest Research - 9 Dec 2019