Oceancash Pacific (0049)
Oceancash Pacific jumped higher and touched the RM0.525 resistance level. Higher trading volume was recorded at the latest session. With the momentum indicator RSI above 70%, there is a possibility it will break above the resistance price, and move towards the target price of RM0.57 and RM0.605. The immediate support is anticipated at RM0.48, whereby traders may exit on a breach to avoid the risk of a further consolidation.
Trading Call: Buy upon breakout above RM0.525
Target: RM0.57, RM0.605 (time frame: 3-6 weeks) Exit: RM0.48
Source: AmInvest Research - 28 Jan 2020
