Rubberex Corporation broke above the RM5.20 resistance level with a higher trading volume during its latest session. With its RSI indicator pointing upwards, we see possibility for a technical breakout. If this happens, we expect it to march towards the short-term target prices of RM5.70 and RM6.20. The downside support is projected at RM4.80, where traders may exit on a breach to avoid a further correction.

Trading Call: Buy on pullback RM5.20
Target: RM5.70, RM6.20 (time frame: 2-4 weeks)
Exit: RM4.80

Source: AmInvest Research - 14 Sept 2020