MISC rose and touched the RM6.90 resistance level. With its RSI indicator pointing upward, coupled with a higher high candle stick pattern, we see a possibility for a technical breakout. If this happens, we expect it to move towards the short-term target prices of RM7.13 and RM7.23. The downside support is projected at RM6.61. Traders are advised to exit on a breach to avoid further losses.

Trading Call: Buy on breakout RM6.90

Target: RM7.13, RM7.23 (time frame: 2-4 weeks)

Exit: RM6.61
 

Source: AmInvest Research - 21 Dec 2021