Resintech rose and tested the RM0.815 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 RM0.85 and RM0.88. The downside support is projected at RM0.75. Traders are advised to exit on a breach to avoid further losses.

Trading Call: Buy near RM0.815

Target: RM0.85, RM0.88 (time frame: 2-4 weeks)

Exit: RM0.75
 

Source: AmInvest Research - 10 Nov 2021