Binasat Commmucations rose and tested the RM0.39 resistance level. With its RSI indicator 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 RM0.41 and RM0.43. The downside support is projected at RM0.355. Traders are advised to exit on a breach to avoid further losses.
Trading Call: Buy on breakout RM0.39
Target: RM0.41, RM0.43 (time frame: 2-4 weeks)
Exit: RM0.355
Source: AmInvest Research - 4 Oct 2021
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Created by AmInvest | Sep 19, 2024