D’nonce Technology is consolidating and testing the RM0.63 resistance level. With its 21-day moving average pointing upwards, coupled with higher trading volume, 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 RM0.68 and RM0.73. The downside support is anticipated at RM0.58, whereby traders may exit on a breach to avoid the risk of a further correction

Trading Call: Buy on breakout RM0.63

Target: RM0.68, RM0.73 (time frame: 2-4 weeks)

Exit: RM0.58

Source: AmInvest Research - 28 Sept 2020