D’nonce Technology jumped and touched the RM0.53 resistance level. With its RSI indicator trading 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 RM0.55, followed by RM0.575. The downside support is marked at RM0.485. Traders are advised to exit on a breach to avoid further losses.

Trading Call: Buy on breakout RM0.53

Target: RM0.55, RM0.575 (time frame: 2-4 weeks)

Exit: RM0.485

Source: AmInvest Research - 16 Jul 2021