IRIS Corporation is consolidating, touching the RM0.27 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 RM0.285, followed by RM0.30. The downside support is marked at RM0.25. Traders are advised to exit on a breach to avoid further losses.
Trading Call: Buy on breakout RM0.27
Target: RM0.285, RM0.30 (time frame: 2-4 weeks)
Exit: RM0.25
Source: AmInvest Research - 22 Oct 2020
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Created by AmInvest | Jul 26, 2024