Caely Holdings jumped and flirted with the RM0.495 resistance level. With its RSI indicator pointing upwards, coupled with higher trading volume, there is a good chance for a technical breakout towards the short-term target price of RM0.545, followed by RM0.57. The downside support is marked at RM0.45. Traders are advised to exit on a breach to avoid further losses.
Trading Call: Buy on breakout RM0.495
Target: RM0.545, RM0.57 (time frame: 2-4 weeks)
Exit: RM0.45
Source: AmInvest Research - 15 Oct 2020
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