Ancom surged and touched the RM1.54 resistance level. With its RSI indicator pointing upwards, coupled with higher trading volume, there is a good chance that it would experience a technical breakout and head towards the short-term target price of RM1.59, followed by RM1.66. The downside support is marked at RM1.42. Traders are advised to exit on a breach to avoid further losses.

Trading Call: Buy on breakout RM1.54

Target: RM1.59, RM1.66 (time frame: 2-4 weeks)

Exit: RM1.42
 

Source: AmInvest Research - 5 Jul 2021