Mikro MSC broke past the RM0.235 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 technical target prices of RM0.265 and RM0.285. The downside support is anticipated at RM0.21, whereby traders may exit on a breach to avoid the risk of a further correction
Trading Call: Buy on breakout RM0.235
Target: RM0.265, RM0.285 (time frame: 2-4 weeks)
Exit: RM0.21
Source: AmInvest Research - 11 Aug 2020
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