Bermaz Auto climbed and hit the RM1.56 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 RM1.61, followed by RM1.63. The downside support is marked at RM1.50. Traders are advised to exit on a breach to avoid further losses.

Trading Call: Buy on breakout RM1.56

Target: RM1.61, RM1.63 (time frame: 2-4 weeks)

Exit: RM1.50
 

Source: AmInvest Research - 20 Dec 2021