Globetronics Technology may move higher to test the RM2.21 resistance level. With an RSI above the 50% threshold level, coupled with a higher lows technical chart pattern, we believe it may break out from resistance soon. If this happens, expect it to move towards the short-term target prices of RM2.28 and RM2.36. The downside support is anticipated at RM2.10, whereby traders may exit on a breach to avoid the risk of a further correction

Trading Call: Buy on breakout RM2.21

Target: RM2.28, RM2.36 (time frame: 2-4 weeks)

Exit: RM2.10

Source: AmInvest Research - 2 Jul 2020