Ancom may soon test the RM0.515 resistance level. With a rising RSI above 60%, a bullish bias may be present above this mark with the short-term target prices of RM0.54 and RM0.565. Meanwhile, it may continue moving sideways if it fails to cross the RM0.515 mark in the near term. In this case, the downside support is anticipated at RM0.49, whereby traders may exit on a breach to avoid the risk of a further correction

Trading Call: Buy upon breakout above RM0.515
Target: RM0.54, RM0.565 (time frame: 3-6 weeks)
Exit: RM0.49

Source: AmInvest Research - 10 Dec 2019