BIMB Holdings dropped lower in its latest session with an immediate resistance level of RM3.18. Since the RSI is in the oversold region, coupled with higher trading volume, we foresee that there could be a technical rebound if it breaks above the resistance level. If this happens, the short-term target prices will be RM3.40 and RM3.55. In this case, the downside support is anticipated at RM3.00, whereby traders may exit on a breach to avoid the risk of a further correction

Trading Call: Buy on breakout RM3.18

Target: RM3.40, RM3.55 (time frame: 3-6 weeks)

Exit: RM3.00

Source: AmInvest Research - 17 Mar 2020