Mynews Holdings rose and tested the RM0.915 resistance level. With its RSI indicator in an uptrend, coupled with a higher low candle stick pattern, we see a possibility for a technical breakout. If this happens, we expect it to move towards the short-term target prices of RM0.955 and RM0.98. The downside support is projected at RM0.85. Traders are advised to exit on a breach to avoid further losses.

Trading Call: Buy near RM0.915

Target: RM0.955, RM0.98 (time frame: 2-4 weeks)

Exit: RM0.85
 

Source: AmInvest Research - 30 Sept 2021