Ancom may soon test the RM0.73 resistance level. With a rising RSI, a bullish bias may be present above this mark with the shortterm target prices of RM0.78 and RM0.83. Meanwhile, it may continue moving sideways if it fails to close above the RM0.73 mark in the near term. In this case, the downside support is anticipated at RM0.66, whereby traders may exit on a breach to avoid the risk of a further correction.

Trading Call: Buy on breakout RM0.73
Target: RM0.78, RM0.83 (time frame: 3-6 weeks)
Exit: RM0.66

Source: AmInvest Research - 20 Feb 2020