AWC has touched the RM0.565 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 RM0.59 and RM0.61. The downside support is projected at RM0.54. Traders are advised to exit on a breach to avoid further losses.

Trading Call: Buy on breakout RM0.565

Target: RM0.59, RM0.61 (time frame: 2-4 weeks)

Exit: RM0.54
 

Source: AmInvest Research - 30 Dec 2021