Muda Holdings surged past the RM2.00 resistance level with higher trading volume. Given that the RSI indicator is pointing upwards, coupled with a bullish white candlestick pattern, we believe that the bullish momentum is still intact and continues to travel towards the short-term target prices of RM2.20 and RM2.35. The downside support is anticipated at RM1.90, whereby traders may exit on a breach to avoid the risk of a further correction

Trading Call: Buy on pullback RM2.00
Target: RM2.20, RM2.35 (time frame: 2-4 weeks)
Exit: RM1.90

Source: AmInvest Research - 10 Aug 2020