Bahvest Resources has touched the resistance level RM0.44 with higher trading volume. If it trades above the resistance level in the coming sessions, we foresee that there could be a technical breakout from the consolidation zone. If this happens, expect it to climb towards the shortterm target price of RM0.475 followed by RM0.50. In this case, the downside support is marked at RM0.39, whereby traders may exit on a breach to avoid the risk of a further correction

Trading Call: Buy on breakout RM0.44

Target: RM0.475, RM0.50 (time frame: 2-4 weeks)

Exit: RM0.39

Source: AmInvest Research - 18 May 2020