Lotte Chemical Titan Holding surged and is poised to touch the RM1.98 resistance level. With its RSI indicator pointing upwards, coupled with higher trading volume, we think that there could be a technical breakout towards the short-term target price of RM2.05 followed by RM2.11. In this case, the downside support is marked at RM1.85, whereby traders may exit on a breach to avoid the risk of a further correction
Trading Call: Buy on breakout RM1.98
Target: RM2.05, RM2.11 (time frame: 2-4 weeks)
Exit: RM1.85
Source: AmInvest Research - 28 Sept 2020
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