Maxim Global consolidated and tested the RM0.27 resistance level. With its 21-day moving average 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 RM0.285 and RM0.29. The downside support is projected at RM0.25. Traders are advised to exit on a breach to avoid further losses.

Trading Call: Buy on breakout RM0.27

Target: RM0.285, RM0.29 (time frame: 2-4 weeks)

Exit: RM0.25
 

Source: AmInvest Research - 29 Sept 2021