Ancom flirted with the RM1.48 resistance level. With its RSI indicator pointing upwards, coupled with a higher trading volume, there is a good chance that it may experience a technical breakout and head towards the short-term target price of RM1.56, followed by RM1.60. The downside support is marked at RM1.36. Traders are advised to exit on a breach to avoid further losses.

Trading Call: Buy on breakout RM1.48

Target: RM1.56, RM1.60 (time frame: 2-4 weeks)

Exit: RM1.36

Source: AmInvest Research - 20 Apr 2021