MMS Ventures is moving sideways, testing the RM1.12 resistance level. With its RSI indicator in an uptrend, coupled with a bullish candlestick pattern, we see a possibility for a technical breakout. If this happens, we expect it to move towards the short-term target prices of RM1.18 and RM1.22. The downside support is projected at RM1.02. Traders are advised to exit on a breach to avoid further losses.

Trading Call: Buy on breakout RM1.12

Target: RM1.18, RM1.22 (time frame: 2-4 weeks)

Exit: RM1.02
 

Source: AmInvest Research - 22 Sept 2021