Bahvest has been range-bound during recent sessions with the immediate resistance of RM0.585. Higher trading volume was recorded in the latest session. With the momentum indicator RSI above 50%, there is a possibility it will break above the resistance and move towards the target price of RM0.61 followed by RM0.63. Support is anticipated at RM0.545, whereby traders may exit on a breach to avoid the risk of a further consolidation.

Trading Call: Buy on breakout RM0.585

Target: RM0.61, RM0.63 (time frame: 3-6 weeks)

Exit: RM0.545

Source: AmInvest Research - 24 Feb 2020