Affin may trade higher after making a false breakdown of the RM3.00 psychological level recently. A purchase can be made on the close above the 3-month high of RM3.12, with a close below RM3.00 as stop-loss. An aggressive trade may even enter now. The price target is the 2011 high of RM3.80, with resistance also expected at RM3.40. A close below RM3.00 nullifies the upward bias, after which the stock may trade lower. Supports are at RM2.80 and RM2.60.
Source: OSK
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