Paramount Corporation continued its rising trend, and touched the RM0.82 resistance level. With its RSI indicator pointing upwards, coupled with a higher low candle stick pattern, there is a good chance it will break out and head towards the short-term target price of RM0.85, followed by RM0.88. The downside support is marked at RM0.79. Traders are advised to exit on a breach to avoid further losses.
Trading Call: Buy on breakout RM0.82
Target: RM0.85, RM0.88 (time frame: 2-4 weeks)
Exit: RM0.79
Source: AmInvest Research - 30 Nov 2020
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Created by AmInvest | Jul 26, 2024