Johore Tin broke past the resistance price of RM1.50 in the latest session with higher trading volume. With the momentum indicator RSI above 70%, it may continue to move towards the target price of RM1.65 followed by RM1.75. If it dips below RM1.50, expect a sideway consolidation again. In this case, support price is anticipated at RM1.43, whereby traders may exit on a breach to avoid the risk of a further correction.
Trading Call: Buy upon breakout above RM1.50
Target: RM1.65, RM1.75 (time frame: 3-6 weeks)
Exit: RM1.43
Source: Kenanga Research - 14 Nov 2019
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Created by kiasutrader | Aug 26, 2024