Ancom was testing the RM0.65 mark in its latest session. With the momentum indicator RSI above 50%, there is a possibility it will break above the resistance price of RM0.65, and move towards the target prices of RM0.69 and RM0.73. The immediate support is anticipated at RM0.61, whereby traders may exit on a breach to avoid the risk of a further consolidation.

Trading Call: Buy upon breakout above RM0.65

Target: RM0.69, RM0.73 (time frame: 3-6 weeks)

Exit: RM0.61

Source: AmInvest Research - 13 Jan 2020