Kumpulan Powernet surged past the resistance price of RM1.54 in its latest session with higher trading volume. With the momentum indicator RSI above 60%, the short-term momentum could reach a target price of RM1.66, followed by RM1.73. If it dips below RM1.54, it will continue to move sideways and consolidate. Support is anticipated at RM1.39 whereby traders may exit on a breach to avoid the risk of a further correction. Trading Call: Buy on continuation above RM1.54

Target: RM1.66, RM1.73 (time frame: 3-6 weeks) Exit: RM1.39

Source: AmInvest Research - 8 Jan 2020