Tomei Consolidated climbed and touched the RM0.98 resistance level with higher trading volume. 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 RM1.02, followed by RM1.04. The downside support is marked at RM0.925. Traders are advised to exit on a breach to avoid further losses.

Trading Call: Buy on breakout RM0.98

Target: RM1.02, RM1.04 (time frame: 2-4 weeks)

Exit: RM0.925
 

Source: AmInvest Research - 29 Oct 2021