Tomei Consolidated was testing the resistance level of RM0.525 in the lastest session. With an RSI level above 60%, it may continue to climb above the resistance price and move towards its short-term target price of RM0.57 followed by RM0.60. If it fails to close above the resistance, expect a sideway movement. Support is anticipated at RM0.47, whereby traders may exit on a breach to avoid the risk of a further correction.

Trading Call: Buy on breakout RM0.525
Target: RM0.57, RM0.60 (time frame: 3-6 weeks)
Exit: RM0.47

Source: AmInvest Research - 19 Feb 2020