Top Glove Corporation surged aboove resistance level RM20.16 with high trading volume. Given that the RSI indicator pointing upwards, coupled with higher lows candlestick pattern, we think that the bullish momentum will continue to travel towards the next technical target prices of RM24.82 and RM26.62. The downside support is anticipated at RM18.04, whereby traders may exit on a breach to avoid the risk of a further correction

Trading Call: Buy on pullback RM20.16

Target: RM24.82, RM26.62 (time frame: 2-4 weeks)

Exit: RM18.04

Source: AmInvest Research - 13 Jul 2020