British American Tobacco (Malaysia) may soon break out from the RM12.04 resistance level. Notice that its share price is moving higher while trading volume is trending lower, indicating the selling pressure is low. With the RSI above 60%, it may break out and move towards the shortterm target prices of RM12.60 and RM13.16. The downside support is anticipated at RM11.48, whereby traders may exit on a breach to avoid the risk of a further correction
Trading Call: Buy on breakout RM12.04
Target: RM12.60, RM13.16 (time frame: 2-4 weeks)
Exit: RM11.48
Source: AmInvest Research - 29 Apr 2020
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