Bermaz Auto is moving sideways to test the RM1.42 resistance level. With its RSI indicator pointing upwards, coupled with a bullish white candlestick pattern, we see that there is a possibility it will experience a technical breakout. If this happens, expect it to travel towards the short-term target prices of RM1.49 and RM1.56. The downside support is anticipated at RM1.35, whereby traders may exit on a breach to avoid the risk of a further correction

Trading Call: Buy on breakout RM1.42
Target: RM1.49, RM1.56 (time frame: 2-4 weeks)
Exit: RM1.35

Source: AmInvest Research - 7 Sept 2020