Reservoir Link Energy surged and tested the RM0.615 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 RM0.655 and RM0.68. The downside support is projected at RM0.55. Traders are advised to exit on a breach to avoid further losses.

Trading Call: Buy on breakout RM0.615

Target: RM0.655, RM0.68 (time frame: 2-4 weeks)

Exit: RM0.55
 

Source: AmInvest Research - 12 Oct 2021