Kimlun Corporation is consolidating sideways with the immediate resistance level of RM0.59. Notice that the trading volume has surged during recent sessions. With such high trading interest, this indicates that there is a possibility it will experience a technical breakout and travel towards the short-term target prices of RM0.63 and RM0.67. The downside support is anticipated at RM0.55, whereby traders may exit on a breach to avoid the risk of a further correction
Trading Call: Buy on breakout RM0.59
Target: RM0.63, RM0.67 (time frame: 3-6 weeks)
Exit: RM0.55
Source: AmInvest Research - 3 Apr 2020
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