Bermaz Auto shares price fell to oversold region with immediate resistance level RM1.53. Since RSI indicator below 30%, It may experience a technical rebound and breakout from resistance. If this happens, the next shortterm target prices will be RM1.60 and RM1.67. The downside support is anticipated at RM1.48, whereby traders may exit on a breach to avoid the risk of a further correction

Trading Call: Buy on breakout RM1.53

Target: RM1.60, RM1.67 (time frame: 3-6 weeks)

Exit: RM1.48

Source: AmInvest Research - 16 Mar 2020