Globetronics Technology shot up and tested the resistance price of RM2.32. With an RSI level above 60%, it may continue to climb above the resistance price and move towards the shortterm target price of RM2.38 followed by RM2.50. If it closes below RM2.32, expect a sideway movement. Support is anticipated at
RM2.20, whereby traders may exit on a breach to avoid the risk of a further correction.
Trading Call: Buy upon breakout above
RM2.32Target:
RM2.38, RM2.50 (time frame: 3-6 weeks)
Exit:
RM2.20Source: AmInvest Research - 2 Jan 2020