Top Glove Corporation may soon move higher again to test the RM12.12 resistance level. Notice that the trading volume is rising in tandem with its higher share price, indicating the bullish momentum is intact. We see that there is a possibility it will experience a technical breakout and move towards the short-term target prices of RM12.78 and RM13.48. The downside support is anticipated at RM11.12, whereby traders may exit on a breach to avoid the risk of a further correction

Trading Call: Buy on breakout RM12.12

Target: RM12.78, RM13.48 (time frame: 2-4 weeks)

Exit: RM11.12

Source: AmInvest Research - 27 May 2020