QL Resources broke past the resistance level RM8.28 during its latest session. With the momentum indicator RSI above 60%, coupled with higher trading volume, we see thatt it will continue to move towards the short-term target prices of RM9.00 and RM9.45. The downside support is anticipated at RM8.00, whereby traders may exit on a breach to avoid the risk of a further correction

Trading Call: Buy on breakout RM8.28

Target: RM9.00, RM9.45 (time frame: 2-4 weeks)

Exit: RM8.00

Source: AmInvest Research - 14 May 2020