Lotte Chemical Titan Holding rose and tested the RM2.65 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 RM2.75 and RM2.85. The downside support is projected at RM2.45. Traders are advised to exit on a breach to avoid further losses.

Trading Call: Buy near RM2.65

Target: RM2.75, RM2.85 (time frame: 2-4 weeks)

Exit: RM2.45
 

Source: AmInvest Research - 1 Oct 2021