Naim Holdings rebounded and may soon test the reistance level of RM1.29. With an RSI level above 60%, it may potentially move beyond the resistance price towards its short-term target price of RM1.38 followed by RM1.43. Int this case, the support price is anticipated at RM1.20, whereby traders may exit on a breach to avoid the risk of a further correction.

Trading Call: Buy upon breakout above RM1.29

Target: RM1.38, RM1.43 (time frame: 3-6 weeks)

Exit: RM1.20

Source: AmInvest Research - 30 Jan 2020