Kumpulan Powernet shot up to touched the resistance level of RM1.93. It formed a bullish long white candle in its lastest session. With a rising RSI, it may climb above the resistance and move towards RM2.02 followed by RM2.16. In this case, the downside support is anticipated at RM1.77, whereby traders may exit on a breach to avoid the risk of a further correction.
Trading Call: Buy upon breakout above RM1.93
Target: RM2.02, RM2.16 (time frame: 3-6 weeks)
Exit: RM1.77
Source: AmInvest Research - 31 Jan 2020
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Created by AmInvest | Nov 25, 2024