Top Glove Corporation broke out from resistance level RM16.22 with high trading volume. With the indicator RSI pointing upwards, coupled with rising trading volume, we see that it will continue to move towards the short-term target prices of RM17.22 and RM18.22. The downside support is anticipated at RM15.22, whereby traders may exit on a breach to avoid the risk of a further correction

Trading Call: Buy on breakout RM16.22

Target: RM17.22, RM18.22 (time frame: 2-4 weeks)

Exit: RM15.22

Source: AmInvest Research - 9 Jun 2020