Ann Joo Resources consolidated and touched the RM2.35 resistance level. With its 21-day moving average indicator trending upwards, coupled with a higher trading volume, there is a good chance that it would experience a technical breakout and head towards the short-term target price of RM2.45, followed by RM2.56. The downside support is marked at RM2.14. Traders are advised to exit on a breach to avoid further losses.

Trading Call: Buy on breakout RM2.35

Target: RM2.45, RM2.56 (time frame: 2-4 weeks)

Exit: RM2.14

Source: AmInvest Research - 27 Jul 2021