Xin Hwa Holdings has surged past the resistance price of RM0.55 in its latest session with higher trading volume. With the momentum indicator RSI above 60%, the short-term momentum could reach the target price of RM0.60, followed by RM0.64. If it dips below RM0.55, expect a sideway consolidation. The Support price is anticipated at RM0.495 whereby traders may exit on a breach to avoid the risk of a further correction.

Trading Call: Buy on pullback near RM0.55
Target: RM0.60, RM0.64 (time frame: 3-6 weeks)
Exit: RM0.495

Source: AmInvest Research - 12 Feb 2020