ManagePay Systems surged and touched the RM0.255 resistance level. With its RSI indicator edging 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 RM0.265, followed by RM0.275. The downside support is marked at RM0.235. Traders are advised to exit on a breach to avoid further losses.
Trading Call: Buy on breakout RM0.255
Target: RM0.265, RM0.275 (time frame: 2–4 weeks)
Exit: RM0.235
Source: AmInvest Research - 4 Aug 2021
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