Gamuda rose and hit the RM2.95 resistance level. With its RSI indicator pointing upward, coupled with a bullish white candle stick pattern, there is a good chance that it would experience a technical breakout and head towards the short-term target price of RM3.05, followed by RM3.10. The downside support is marked at RM2.81. Traders are advised to exit on a breach to avoid further losses.

Trading Call: Buy on breakout RM2.95

Target: RM3.05, RM3.10 (time frame: 2-4 weeks)

Exit: RM2.81
 

Source: AmInvest Research - 9 Dec 2021