Malayan Cement rose and touched the RM2.33 resistance level with higher trading volume. With its RSI indicator pointing upwards, there is a good chance that it would experience a technical breakout and head towards the short-term target price of RM2.42, followed by RM2.51. The downside support is marked at RM2.15. Traders are advised to exit on a breach to avoid further losses.

Trading Call: Buy near RM2.33

Target: RM2.42, RM2.51 (time frame: 2-4 weeks)

Exit: RM2.15

Source: AmInvest Research - 19 Feb 2021