Leader Steel Holdings surged and tested the RM0.725 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 RM0.755 and RM0.775. The downside support is projected at RM0.675. Traders are advised to exit on a breach to avoid further losses.
Trading Call: Buy on breakout RM0.725
Target: RM0.755, RM0.775 (time frame: 2-4 weeks)
Exit: RM0.675
Source: AmInvest Research - 24 Jun 2021
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ahbah
A good buy ?
2021-06-29 11:24