Mobilia Holdings rebounded and tested the RM0.51 resistance level. With its RSI indicator in an uptrend, coupled with a higher low candle stick pattern, we see a possibility for a technical breakout. If this happens, we expect it to move towards the short-term target prices of RM0.53 and RM0.555. The downside support is projected at RM0.465. Traders are advised to exit on a breach to avoid further losses.

Trading Call: Buy near RM0.51

Target: RM0.53, RM0.555 (time frame: 2–4 weeks)

Exit: RM0.465

Source: AmInvest Research - 29 Jul 2021