Tiong Nam Logistics Holdings’ share price jumped with high trading volume in the latest session. With an RSI above 60%, it may break above the resistance level RM0.40 in the coming sessions. If this happens, the next short-term target prices will be RM0.43 followed by RM0.47. In this case, the downside support is anticipated at RM0.36, whereby traders may exit on a breach to avoid the risk of a further correction

Trading Call: Buy on breakout RM0.40

Target: RM0.43, RM0.47 (time frame: 2-4 weeks)

Exit: RM0.36

Source: AmInvest Research - 24 Apr 2020