ELK-Desa Resources rose and is poised to touch the RM1.36 resistance level. With its RSI indicator pointing upward, there is a good chance that it would experience a technical breakout and head towards the short-term target price of RM1.41, followed by RM1.44. The downside support is marked at RM1.30. Traders are advised to exit on a breach to avoid further losses.

Trading Call: Buy on breakout RM1.36

Target: RM1.41, RM1.44 (time frame: 2-4 weeks)

Exit: RM1.30
 

Source: AmInvest Research - 9 Sept 2021