Kronologi Asia has retraced its path and consolidated near the RM0.56 resistance level. With the indicator RSI hovering at the 50% threshold, coupled with a higher lows technical pattern, we think that the bullish momentum will resume if it breaks out from the resistance level. If this happens, expect it to move towards the short-term target prices of RM0.58 and RM0.60. In this case, the downside support is marked at RM0.52, whereby traders may exit on a breach to avoid the risk of a further correction

Trading Call: Buy on breakout RM0.56

Target: RM0.58, RM0.60 (time frame: 2-4 weeks)

Exit: RM0.52

Source: AmInvest Research - 22 Jun 2020