D’nonce Technology jumped and tested the RM0.485 resistance level. With its RSI 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 RM0.50 and RM0.515. The downside support is projected at RM0.455. Traders are advised to exit on a breach to avoid further losses.

Trading Call: Buy on breakout RM0.485

Target: RM0.50, RM0.515 (time frame: 2-4 weeks)

Exit: RM0.455
 

Source: AmInvest Research - 18 Jun 2021