Managepay Systems jumped and touched the RM0.23 resistance level. With its 21-day moving average 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 RM0.245, followed by RM0.255. The downside support is marked at RM0.215. Traders are advised to exit on a breach to avoid further losses.

Trading Call: Buy on breakout RM0.23

Target: RM0.245, RM0.255 (time frame: 2-4 weeks)

Exit: RM0.215
 

Source: AmInvest Research - 31 May 2021