Texchem Resources surged and touched the RM0.67 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 RM0.70, followed by RM0.73. The downside support is marked at RM0.61. Traders are advised to exit on a breach to avoid further losses.

Trading Call: Buy on breakout RM0.67

Target: RM0.70, RM0.73 (time frame: 2-4 weeks)

Exit: RM0.61

Source: AmInvest Research - 23 Feb 2021