Superlon Holdings sprang higher to test the RM0.74 resistance level. With a rising RSI, the momentum may continue to travel towards short-term target price of RM0.78 followed by RM0.82. Meanwhile, it may move sideways if it fails to trade above RM0.74 mark in the near term. In this case, the downside support is marked at RM0.69, whereby traders may exit on a breach to avoid the risk of a further correction

Trading Call: Buy on breakout RM0.74

Target: RM0.78, RM0.82 (time frame: 2-4 weeks)

Exit: RM0.69

Source: AmInvest Research - 19 Jun 2020