Lotte Chemical Titan Holding jumped and tested the RM2.90 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 RM2.99 and RM3.09. The downside support is projected at RM2.71. Traders are advised to exit on a breach to avoid further losses.

Trading Call: Buy on breakout RM2.90

Target: RM2.99, RM3.09 (time frame: 2–4 weeks)

Exit: RM2.71

Source: AmInvest Research - 21 Jul 2021