Ann Joo Resources has seen a technical rebound and tested the RM1.16 resistance level with higher trading volume. With the momentum indicator RSI above 60%, it could break RM1.16, and move towards the short-term target prices of RM1.23 and RM1.28. Support is anticipated at RM1.05, whereby traders may exit on a breach to avoid the risk of a further consolidation.

Trading Call: Buy upon breakout above RM1.16
Target: RM1.23, RM1.28 (time frame: 3-6 weeks)
Exit: RM1.05

Source: AmInvest Research - 11 Dec 2019