Maxis rebounded and hit the RM4.63 resistance level. With its 21-day moving average pointing upward, coupled with a bullish white candle stick pattern, there is a good chance that it would experience a technical breakout and head towards the short-term target price of RM4.78, followed by RM4.90. The downside support is marked at RM4.43. Traders are advised to exit on a breach to avoid further losses.

Trading Call: Buy near RM4.63

Target: RM4.78, RM4.90 (time frame: 2-4 weeks)

Exit: RM4.43
 

Source: AmInvest Research - 6 Sept 2021