Bermaz Auto may soon move higher to test the immediate resistance level RM1.52. With the RSI crossing above the threshold 50%, we believe that the bullish momentum has resumed and it may break out from the resistance soon. If this happens, expects it to travel towards the short-term target prices of RM1.66 and RM1.76. In this case, the downside support is marked at RM1.30, whereby traders may exit on a breach to avoid the risk of a further correction

Trading Call: Buy on breakout RM1.52

Target: RM1.66, RM1.76 (time frame: 2-4 weeks)

Exit: RM1.30

Source: AmInvest Research - 9 Jun 2020