Hartalega Holdings was testing the RM5.57 resistance price in its latest session with higher trading volume. With the momentum indicator RSI above 60%, the short-term rebound could reach a target price of RM5.73, followed by RM5.88. If it fails to cross RM5.57, it will move sideways for more consolidation. Support is anticipated at RM5.42 whereby traders may exit on a breach to avoid the risk of a further correction.

Trading Call: Buy upon breakout above RM5.57

Target: RM5.73, RM5.88 (time frame: 3-6 weeks)

Exit: RM5.42

Source: AmInvest Research - 21 Jan 2020