DRB-Hicom may soon move higher to test RM1.98 resistance level. With a candlestick pattern showing higher highs and higher lows formation, we think that the bullish momentum will stay intact and it could move towards the short-term target price of RM2.05 followed by RM2.13. In this case, the downside support is marked at RM1.88, whereby traders may exit on a breach to avoid the risk of a further correction

Trading Call: Buy on breakout RM1.98

Target: RM2.05, RM2.13 (time frame: 2-4 weeks)

Exit: RM1.88

Source: AmInvest Research - 12 Aug 2020