Tambun Indah Land may soon move higher to test the RM0.56 resistance level. Observe that the RSI indicator is pointing upwards, and coupled with rising trading volume, we foresee that it may break out from resistance soon. If this happens, expect it to climb towards the short-term target price of RM0.59 followed by RM0.625. In this case, the downside support is marked at RM0.525, whereby traders may exit on a breach to avoid the risk of a further correction

Trading Call: Buy on breakout RM0.56

Target: RM0.59, RM0.625 (time frame: 2-4 weeks) Exit: RM0.525

Source: AmInvest Research - 5 Jun 2020