Astro Malaysia Holdings rose and tested the RM1.11 resistance level. With its RSI indicator in an uptrend, coupled with a higher trading volume, we see a possibility for a technical breakout. If this happens, we expect it to move towards the short-term target prices of RM1.16 and RM1.20. The downside support is projected at RM1.05. Traders are advised to exit on a breach to avoid further losses.

Trading Call: Buy on breakout RM1.11

Target: RM1.16, RM1.20 (time frame: 2-4 weeks)

Exit: RM1.05

Source: AmInvest Research - 25 Aug 2021