Globetronics Technology is seen consolidating below the immediate resistance level RM2.04. With the RSI above the 50% threshold level, coupled with a higher low technical chart pattern, we believe it may break out from resistance soon. If this happens, it may move towards the short-term target prices of RM2.16 and RM2.28. The downside support is anticipated at RM1.87, whereby traders may exit on a breach to avoid the risk of a further correction

Trading Call: Buy on breakout RM2.04

Target: RM2.16, RM2.28 (time frame: 2-4 weeks)

Exit: RM1.87

Source: AmInvest Research - 4 Jun 2020