BIMB Holdings jumped and tested the RM4.30 resistance level. With its RSI indicator 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 RM4.46 and RM4.50. The downside support is projected at RM4.10. Traders are advised to exit on a breach to avoid further losses.

Trading Call: Buy on breakout RM4.30

Target: RM4.46, RM4.50 (time frame: 2-4 weeks)

Exit: RM4.10

Source: AmInvest Research - 9 Mar 2021