AME Elite Consortium may soon move higher to test the RM1.76 resistance level. Observe that the RSI indicator is pointing upwards, and coupled with higher trading volume, we see that there is a possibilty it will break out from the resistance level. If this happens, expect it to move towards the short-term target prices of RM1.82 and RM1.88. The downside support is anticipated at RM1.67, whereby traders may exit on a breach to avoid the risk of a further correction.

Trading Call: Buy on breakout RM1.76

Target: RM1.82, RM1.88 (time frame: 2-4 weeks)

Exit: RM1.67

Source: AmInvest Research - 29 Jun 2020