MI Technovation rose and tested the RM3.92 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 RM4.09 and RM4.17. The downside support is projected at RM3.67. Traders are advised to exit on a breach to avoid further losses.

Trading Call: Buy on breakout RM3.92

Target: RM4.09, RM4.17 (time frame: 2–4 weeks)

Exit: RM3.67

Source: AmInvest Research - 2 Aug 2021