Omesti climbed and hit the RM0.42 resistance level. With its 21-day moving average in an uptrend, coupled with a sustainable trading volume, there is a good chance that it would experience a technical breakout and head towards the short-term target price of RM0.435, followed by RM0.445. The downside support is marked at RM0.40. Traders are advised to exit on a breach to avoid further losses.

Trading Call: Buy on breakout RM0.42

Target: RM0.435, RM0.445 (time frame: 2-4 weeks)

Exit: RM0.40
 

Source: AmInvest Research - 22 Dec 2021