Ideal United Bintang International shot up and formed a long white candle in its latest session. With an RSI level above 60%, it may continue to climb above the RM1.60 resistance. If this happens, its short-term target price will be RM1.70 followed by RM1.80. It may move sideways for consolidation if it closes below RM1.60. Support is anticipated at RM1.53, whereby traders may exit on a breach to avoid the risk of a further correction. Trading Call: Buy on continuation above RM1.60

Target: RM1.70, RM1.80 (time frame: 3-6 weeks) Exit: RM1.53

Source: AmInvest Research - 15 Jan 2020