Engtex Group surged and touched the RM0.61 resistance level. With its RSI indicator in an uptrend, coupled with a higher trading volume, there is a good chance it will experience a technical breakout and head towards the short-term target price of RM0.64, followed by RM0.67. The downside support is marked at RM0.55. Traders are advised to exit on a breach to avoid further losses.

Trading Call: Buy on breakout RM0.61

Target: RM0.64, RM0.67 (time frame: 2-4 weeks)

Exit: RM0.55

Source: AmInvest Research - 22 Jan 2021