Luxchem Corporation is moving sideways, touching the RM0.745 resistance level. With its RSI indicator pointing upward, 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 RM0.77, followed by RM0.785. The downside support is marked at RM0.705. Traders are advised to exit on a breach to avoid further losses.
Trading Call: Buy on breakout RM0.745
Target: RM0.77, RM0.785 (time frame: 2-4 weeks)
Exit: RM0.705
Source: AmInvest Research - 30 Aug 2021
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Created by AmInvest | Mar 27, 2024