Rubberex Corporation (M) tested the RM0.805 resistance during its intraday high. Notice that it recorded a high trading volume in recent sessions. We foresee that momentum may persist and there could be a technical breakout. If this happens, it may climb towards the shortterm target prices of RM0.885 and RM0.93. In this case, the downside support is anticipated at RM0.715, whereby traders may exit on a breach to avoid the risk of a further correction.

Trading Call: Buy on breakout RM0.805
Target: RM0.885, RM0.93 (time frame: 3-6 weeks)
Exit: RM0.715

Source: AmInvest Research - 31 Mar 2020