Pharmaniaga shot up and tested the RM2.20 resistance level in its lastest session. With an RSI level above 60%, it may continue to climb above RM2.20. If this happens, its short-term target price will be RM2.35 followed by RM2.50. Support is anticipated at RM2.07, whereby traders may exit on a breach to avoid the risk of a further correction. Trading Call: Buy upon breakout above RM2.20

Target: RM2.35, RM2.50 (time frame: 3-6 weeks) Exit: RM2.07

Source: AmInvest Research - 29 Jan 2020