Rubberex Corporation (M) (7803)

Rubberex Corporation (M) retraced its path recently and might rebound to test RM3.24. Since it has formed a bullish white candle during its recent session, coupled with a 21-day moving average that is still pointing upwards, we believe the uptrend is intact. If it breaches RM3.24, expect Rubberex to reach the target price of RM3.54 followed by RM3.92. In this case, the downside support is marked at RM2.73, whereby traders may exit on a breach to avoid the risk of a further correction Trading Call: Buy on breakout RM3.24

Target: RM3.54, RM3.92 (time frame: 2-4 weeks) Exit: RM2.73

Source: AmInvest Research - 15 Jun 2020