Poh Kong Holdings retreated after failing to break above the resistance price of RM0.60. With the momentum indicator RSI above 50%, there is a possibility it will break above RM0.60 in coming sessions, and move towards the target prices of RM0.665 and RM0.70. The immediate support is anticipated at RM0.545, whereby traders may exit on a breach to avoid the risk of a further consolidation. Trading Call: Buy upon breakout above RM0.60
Target: RM0.665, RM0.70 (time frame: 3-6 weeks) Exit: RM0.545
Source: AmInvest Research - 29 Jan 2020
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Created by AmInvest | Nov 25, 2024