Time dotCom rose and touched the RM4.37 resistance level. With its 21-day moving average in an uptrend, coupled with a higher trading volume, we see a possibility for a technical breakout. If this happens, we expect it to move towards the short-term target prices of RM4.51 and RM4.55. The downside support is projected at RM4.23. Traders are advised to exit on a breach to avoid further losses.

Trading Call: Buy on breakout RM4.37

Target: RM4.51, RM4.55 (time frame: 2-4 weeks)

Exit: RM4.23
 

Source: AmInvest Research - 23 Dec 2021