DRB-Hicom may soon move higher to test the immediate resistance RM1.68. Notice that the momentum indicator RSI is trending above 60%, and coupled with higher trading volume, these show that a bullish momentum has kicked in. If it breaks out from the resistance, it will travel towards the short-term target prices of RM1.75 and RM1.88. The downside support is anticipated at RM1.55, whereby traders may exit on a breach to avoid the risk of a further correction

Trading Call: Buy on breakout RM1.68

Target: RM1.75, RM1.88 (time frame: 2-4 weeks)

Exit: RM1.55

Source: AmInvest Research - 1 Jun 2020