Poh Huat Resources jumped above the resistance level RM1.00. Notice that it has formed a higher low pattern with bigger trading volume, indicating a strong bullish momentum. With an RSI pointing upwards, we view that it will propel towards the short-term target prices of RM1.08 and RM1.16. In this case, the downside support is marked at RM0.94, whereby traders may exit on a breach to avoid the risk of a further correction

Trading Call: Buy on breakout RM1.00

Target: RM1.08, RM1.16 (time frame: 2-4 weeks)

Exit: RM0.94

Source: AmInvest Research - 14 May 2020