Global Oriental continued climbing and touched the RM0.58 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 RM0.63, followed by RM0.68. The downside support is marked at RM0.53. Traders are advised to exit on a breach to avoid further losses.

Trading Call: Buy on breakout RM0.58

Target: RM0.63, RM0.68 (time frame: 2-4 weeks)

Exit: RM0.53

Source: AmInvest Research - 7 Dec 2020