Can-One was testing the RM3.42 mark during its intraday high. With a moderate RSI level, it may break the resistance level. If this happens, the short-term target price is anticiapted at RM3.70 folowed by RM3.95. However, if it fails to cross the RM3.42 mark, it may turn sideways. In this case, support is estimated at RM3.20, whereby traders may exit on a breach to avoid the risk of a further correction.
Trading Call: Buy upon breakout above RM3.42
Target: RM3.70, RM3.95 (time frame: 3-6 weeks)
Exit: RM3.20
Source: AmInvest Research - 19 Jul 2019
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Created by AmInvest | Nov 25, 2024