Gamuda retraced its path and tested the RM2.70 support level. With its RSI indicator already in an oversold position, coupled with a higher trading volume, there is a good chance that it would experience a technical rebound and head towards the short-term target price of RM2.79, followed by RM2.88. The downside support is marked at RM2.56. Traders are advised to exit on a breach to avoid further losses.

Trading Call: Buy near RM2.70

Target: RM2.79, RM2.88 (time frame: 2-4 weeks)

Exit: RM2.56

Source: AmInvest Research - 11 Aug 2021