Focus Point Holdings was testing the RM0.57 level during its intraday high. With the momentum indicator RSI above 70%, there is a possibility it will break above the resistance price of RM0.57, and move towards the target price of RM0.63 and RM0.69. The immediate support is anticipated at RM0.51, whereby traders may exit on a breach to avoid the risk of a further consolidation.

Trading Call: Buy upon breakout above RM0.57

Target: RM0.63, RM0.69 (time frame: 3-6 weeks)

Exit: RM0.51

Source: AmInvest Research - 23 Jan 2020