Boilermech Holdings may soon move higher to test the RM0.55 resistance level. Observe that the trading volume is rising in tandem with the share price, and coupled with the momentum indicator RSI at above 60%, these suggest it may break out from the resistance level. If this happens, it will move towards the short-term target prices of RM0.58 and RM0.63. The downside support is anticipated at RM0.50, whereby traders may exit on a breach to avoid the risk of a further correction
 

Trading Call: Buy on breakout RM0.55
Target: RM0.58, RM0.63 (time frame: 2-4 weeks)
Exit: RM0.50