AmInvest Research Reports

Author: AmInvest   |   Latest post: Mon, 30 Nov 2020, 4:51 PM


Stocks on Radar- Rubberex Corporation (M) (7803)

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Rubberex Corporation (M) surged past the RM4.54 resistance level with higher trading volume. Given that the RSI indicator is pointing upwards, coupled with a higher low candlestick pattern, we believe that there could be a technical breakout above the resistance level. If this happens, it may climb towards the short-term target prices of RM4.79 and RM5.22. The downside support is anticipated at RM4.11, whereby traders may exit on a breach to avoid the risk of a further correction

Trading Call: Buy on breakout RM4.54
Target: RM4.79, RM5.22 (time frame: 2-4 weeks)
Exit: RM4.11

Source: AmInvest Research - 29 Jul 2020

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