AwanBiru Technology surged and tested the RM0.72 resistance level. With its RSI indicator in an uptrend, coupled with a higher high candle stick pattern, we see a possibility for a technical breakout. If this happens, we expect it to move towards the short-term target prices of RM0.755 and RM0.80. The downside support is projected at RM0.64. Traders are advised to exit on a breach to avoid further losses.

Trading Call: Buy on breakout RM0.72

Target: RM0.755, RM0.80 (time frame: 2-4 weeks)

Exit: RM0.64

Source: AmInvest Research - 23 Aug 2021