ATA IMS consolidated and tested the RM2.46 resistance level. With its RSI indicator in an uptrend, coupled with a 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 RM2.55 and RM2.60. The downside support is projected at RM2.33. Traders are advised to exit on a breach to avoid further losses.

Trading Call: Buy on breakout RM2.46

Target: RM2.55, RM2.60 (time frame: 2–4 weeks)

Exit: RM2.33

Source: AmInvest Research - 15 Jul 2021