Genting Malaysia rose and touched the RM3.08 resistance level. With its RSI indicator moving upward, coupled with a higher low candle stick pattern, there is a good chance that it would experience a technical breakout and head towards the short-term target price of RM3.19, followed by RM3.29. The downside support is marked at RM2.92. Traders are advised to exit on a breach to avoid further losses.

Trading Call: Buy on breakout RM3.08

Target: RM3.19, RM3.29 (time frame: 2-4 weeks)

Exit: RM2.92
 

Source: AmInvest Research - 8 Oct 2021