Hartalega Holdings may soon trend higher to test the RM6.50 resistance level. We observe the momentum indicator slanting higher, indicating the bullish momentum may lead to a breakout from the resistance level. If this happens, it may travel towards the short-term target prices of RM7.00 and RM7.35. The downside support is anticipated at RM6.18, whereby traders may exit on a breach to avoid the risk of a further correction

Trading Call: Buy on breakout RM6.50

Target: RM7.00, RM7.35 (time frame: 3-6 weeks)

Exit: RM6.18

Source: AmInvest Research - 12 Mar 2020