Sedania Innovator gapped up and tested the RM0.695 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 RM0.735 and RM0.77. The downside support is projected at RM0.62. Traders are advised to exit on a breach to avoid further losses.

Trading Call: Buy on breakout RM0.695

Target: RM0.735, RM0.77 (time frame: 2-4 weeks)

Exit: RM0.62

Source: AmInvest Research - 5 Nov 2021