Guan Chong retreated and touched the RM3.13 resistance level. With its 21-day moving average indicator pointing upwards, coupled with sustainable trading volume, there is a good chance that it would experience a technical rebound and head towards the short-term target price of RM3.23, followed by RM3.30. The downside support is marked at RM3.02. Traders are advised to exit on a breach to avoid further losses.

Trading Call: Buy on pullback RM3.13

Target: RM3.23, RM3.30 (time frame: 2-4 weeks)

Exit: RM3.02

Source: AmInvest Research - 1 Apr 2021