Matrix Concepts Holdings consolidated and touched the RM2.05 resistance level. With its RSI indicator pointing upward, 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 RM2.12, followed by RM2.15. The downside support is marked at RM1.95. Traders are advised to exit on a breach to avoid further losses.

Trading Call: Buy on breakout RM2.05

Target: RM2.12, RM2.15 (time frame: 2-4 weeks)

Exit: RM1.95

Source: AmInvest Research - 19 Aug 2021