Zhulian Corp inched up and touched the RM1.90 resistance level. With its RSI indicator pointing upward, coupled with a higher low candle stick pattern, there is a good chance that it would experience a technical breakout and head towards the short-term target price of RM1.96, followed by RM1.99. The downside support is marked at RM1.85. Traders are advised to exit on a breach to avoid further losses.
Trading Call: Buy near RM1.90
Target: RM1.96, RM1.99 (time frame: 2-4 weeks)
Exit: RM1.85
Source: AmInvest Research - 24 Jun 2021
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