MMS Ventures consolidated and tested the RM1.14 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 RM1.20 and RM1.24. The downside support is projected at RM1.05. Traders are advised to exit on a breach to avoid further losses.

Trading Call: Buy on breakout RM1.14

Target: RM1.20, RM1.24 (time frame: 2-4 weeks)

Exit: RM1.05
 

Source: AmInvest Research - 28 Oct 2021