Zhulian Corporation climbed higher to test the RM1.28 resistance level during its intraday high. With the RSI indicator pointing upwards, coupled with a higher lows technical pattern, we believe that there could be a technical breakout above the resistance level. If this happens, it will travel towards the short-term target price of RM1.34 followed by RM1.40. In this case, the downside support is marked at RM1.23, whereby traders may exit on a breach to avoid the risk of a further correction
Trading Call: Buy on breakout RM1.28
Target: RM1.34, RM1.40 (time frame: 2-4 weeks)
Exit: RM1.23
Source: AmInvest Research - 9 Jul 2020
Chart | Stock Name | Last | Change | Volume |
---|
Created by AmInvest | Jul 26, 2024