MMS Ventures is moving sideways, testing the RM1.30 resistance level. With its 21-day moving average in an uptrend, 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 RM1.36 and RM1.43. The downside support is projected at RM1.18. Traders are advised to exit on a breach to avoid further losses.

Trading Call: Buy on breakout RM1.30

Target: RM1.36, RM1.43 (time frame: 2-4 weeks)

Exit: RM1.18

Source: AmInvest Research - 27 Jan 2021