Bahvest Resources surged past the resistance level of RM0.58 in the latest session. With the momentum indicator RSI above 50%, the bullish momentum may continue and move towards the target prices of RM0.625 and RM0.655. If it dips below RM0.58, it will move sideways for further consolidation. Meanwhile, the immediate support is anticipated at RM0.55, whereby traders may exit on a breach to avoid the risk of a further consolidation.

Trading Call: Buy on continuation above RM0.58

Target: RM0.625, RM0.655 (time frame: 3-6 weeks)

Exit: RM0.55

Source: AmInvest Research - 30 Jan 2020