ALCOM Group 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 RM0.71, followed by RM0.745. The downside support is marked at RM0.60. Traders are advised to exit on a breach to avoid further losses.
Trading Call: Buy on breakout RM0.67
Target: RM0.71, RM0.745 (time frame: 2-4 weeks)
Exit: RM0.60
Source: AmInvest Research - 11 Mar 2021
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