Edaran rebounded and touched the RM1.06 resistance level. With its 21-day moving average indicator heading upwards, coupled with a sustainable trading volume, there is a good chance that it would experience a technical breakout and head towards the short-term target price of RM1.11, followed by RM1.18. The downside support is marked at RM0.96. Traders are advised to exit on a breach to avoid further losses.

Trading Call: Buy on breakout RM1.06

Target: RM1.11, RM1.18 (time frame: 2–4 weeks)

Exit: RM0.96
 

Source: AmInvest Research - 3 Aug 2021