Excel Force MSC climbed from its low and is poised to test the RM0.45 resistance level. With its RSI indicator pointing upwards, coupled with higher trading volume, we see a possibility for a technical breakout. If this happens, we expect it to move towards the short-term target prices of RM0.47 and RM0.49. The downside support is projected at RM0.43. Traders are advised to exit on a breach to avoid further losses.

Trading Call: Buy on breakout RM0.45

Target: RM0.47, RM0.49 (time frame: 2-4 weeks)

Exit: RM0.43

Source: AmInvest Research - 4 Nov 2020