MTAG Group jumped and flirted with the RM0.79 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 RM0.825, followed by RM0.86. The downside support is marked at RM0.72. Traders are advised to exit on a breach to avoid further losses.

Trading Call: Buy on breakout RM0.79

Target: RM0.825, RM0.86 (time frame: 2-4 weeks)

Exit: RM0.72

Source: AmInvest Research - 20 Oct 2020