Binasat Communications consolidated and thereafter flirted with the RM0.385 resistance level. With its RSI indicator pointing upwards, coupled with a higher trading volume, there is a good chance that it may break out and head towards a short-term target price of RM0.405, followed by RM0.43. The downside support is marked at RM0.365. Traders are advised to exit on a breach to avoid further losses.

Trading Call: Buy on breakout RM0.385

Target: RM0.405, RM0.43 (time frame: 2-4 weeks)

Exit: RM0.365

Source: AmInvest Research - 14 Dec 2020