Gamuda jumped and touched the RM3.50 resistance level. With its RSI indicator pointing upwards, coupled with a higher high candlestick pattern, we think that the bullish momentum will soon push towards the technical target price of RM3.70 followed by RM3.77. In this case, the downside support is marked at RM3.33, whereby traders may exit on a breach to avoid the risk of a further correction

Trading Call: Buy on pullback RM3.50
Target: RM3.70, RM3.77 (time frame: 2-4 weeks)
Exit: RM3.33

Source: AmInvest Research - 9 Sept 2020