Can-One broke past the resistance level RM2.82 with higher trading volume. With RSI above threshold 50%, coupled with uptrending 21-day moving average, we see the momentum will travel towards the short-term target prices of RM2.88 and RM2.97. The downside support is anticipated at RM2.49, whereby traders may exit on a breach to avoid the risk of a further correction
Trading Call: Buy on breakout RM2.68
Target: RM2.88, RM2.97 (time frame: 2-4 weeks)
Exit: RM2.49
Source: AmInvest Research - 8 May 2020
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