MTAG Group surged past the RM0.715 resistance level with higher trading volume. Given that the RSI indicator is pointing upwards, coupled with a bullish white candlestick pattern, we believe that there could be a technical breakout above the resistance level. If this happens, it may climb towards the short-term target prices of RM0.76 and RM0.81. The downside support is anticipated at RM0.64, whereby traders may exit on a breach to avoid the risk of a further correction

Trading Call: Buy on breakout RM0.715
Target: RM0.76, RM0.81 (time frame: 2-4 weeks)
Exit: RM0.64

Source: AmInvest Research - 4 Aug 2020