CSC Steel Holdings jumped and tested the RM1.32 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 RM1.42 and RM1.46. The downside support is projected at RM1.20. Traders are advised to exit on a breach to avoid further losses.

Trading Call: Buy on breakout RM1.32

Target: RM1.42, RM1.46 (time frame: 2-4 weeks)

Exit: RM1.20

Source: AmInvest Research - 13 Jan 2021