AME Elite Consortium is consolidating below the RM1.94 resistance level. With higher trading volume sighted, coupled with a bullish white candle stick pattern, we think that there could be a technical breakout towards the shortterm target price of RM2.01 followed by RM2.05. In this case, the downside support is marked at RM1.84, whereby traders may exit on a breach to avoid the risk of a further correction
Trading Call: Buy on breakout RM1.94
Target: RM2.01, RM2.05 (time frame: 2-4 weeks)
Exit: RM1.84
Source: AmInvest Research - 22 Sept 2020
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Created by AmInvest | Jul 26, 2024