Emico Holdings surged and hit the RM0.365 resistance level. With its RSI indicator pointing upwards, coupled with a higher high candle stick pattern, there is a good chance that it would experience a technical breakout and head towards the short-term target price of RM0.38, followed by RM0.395. The downside support is marked at RM0.34. Traders are advised to exit on a breach to avoid further losses.

Trading Call: Buy on breakout RM0.365

Target: RM0.38, RM0.395 (time frame: 2-4 weeks)

Exit: RM0.34
 

Source: AmInvest Research - 16 Dec 2021