Comfort Gloves may soon move higher to test the RM3.15 resistance level. Observe that the 21-day moving average is trending upwards, and coupled with higher trading volume, we see that there’s a possibilty it will break out from the resistance level. If this happens, expect it to move towards the short-term target prices of RM3.35 and RM3.55. The downside support is anticipated at RM2.75, whereby traders may exit on a breach to avoid the risk of a further correction

Trading Call: Buy on breakout RM3.15

Target: RM3.35, RM3.55 (time frame: 2-4 weeks)

Exit: RM2.75

Source: AmInvest Research - 30 Jun 2020