AME Elite Consortium was testing the RM1.33 resistance level during its intraday high. Notice that the trading volume was high, and we foresee that there could be a technical breakout towards the short-term target price of RM1.42 followed by RM1.51. In this case, the downside support is anticipated at RM1.24, whereby traders may exit on a breach to avoid the risk of a further correction

Trading Call: Buy on breakout RM1.33

Target: RM1.42, RM1.51 (time frame: 3-6 weeks)

Exit: RM1.24

Source: AmInvest Research - 7 Apr 2020