EITA Resources rose and tested the RM0.95 resistance level. With its 21-day moving average 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 RM0.99 and RM1.03. The downside support is projected at RM0.87. Traders are advised to exit on a breach to avoid further losses.
Trading Call: Buy on breakout RM0.95
Target: RM0.99, RM1.03 (time frame: 2-4 weeks)
Exit: RM0.87
Source: AmInvest Research - 6 Apr 2021
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