Xin Hwa Holdings climbed and touched the RM0.385 resistance level. With its RSI indicator pointing upwards, coupled with a higher low candle stick pattern, there is a good chance that it would experience a technical rebound and head towards the short-term target price of RM0.40, followed by RM0.415. The downside support is marked at RM0.36. Traders are advised to exit on a breach to avoid further losses.

Trading Call: Buy on breakout RM0.385

Target: RM0.40, RM0.415 (time frame: 2-4 weeks)

Exit: RM0.36

Source: AmInvest Research - 27 May 2021