Excel Force MSC rebounded and touched the RM0.62 resistance level. With its 21-day moving average 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 RM0.65 and RM0.66. The downside support is projected at RM0.58. Traders are advised to exit on a breach to avoid further losses.

Trading Call: Buy near RM0.62

Target: RM0.65, RM0.66 (time frame: 2-4 weeks)

Exit: RM0.58
 

Source: AmInvest Research - 24 Nov 2021