Bursa Malaysia has rebounded from low to test the immediate resistance level RM6.12. With rising RSI above 50%, a bullish bias may be present above this mark with a target price of RM6.28 and RM6.40. Meanwhile, it may continue moving sideways if it fails to cross the RM6.12 mark in the near term. The immediate support is anticipated at RM5.96, whereby traders may exit on a breach to avoid the risk of a further correction.

Trading Call: Buy upon breakout above RM6.12
Target: RM6.28, RM6.40 (time frame: 3-6 weeks)
Exit: RM5.96

Source: AmInvest Research - 24 Dec 2019