Guan Chong was testing the resistance price of RM3.17 again in its latest session. With an RSI level above 60%, it may continue to climb above RM3.17. If this happens, its short-term target price will be RM3.30 followed by RM3.50. Support is anticipated at RM2.98, whereby traders may exit on a breach to avoid the risk of a further correction. Trading Call: Buy upon breakout above RM3.17
Target: RM3.30, RM3.50 (time frame: 3-6 weeks) Exit: RM2.98
Source: AmInvest Research - 20 Jan 2020
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Created by AmInvest | Nov 25, 2024