Muhibbah Engineering jumped and touched the RM0.85 resistance level. With its RSI indicator pointing upward, coupled with a higher trading volume, there is a good chance that it would experience a technical breakout and head towards the short-term target price of RM0.88, followed by RM0.91. The downside support is marked at RM0.805. Traders are advised to exit on a breach to avoid further losses.

Trading Call: Buy on breakout RM0.85

Target: RM0.88, RM0.91 (time frame: 2-4 weeks)

Exit: RM0.805
 

Source: AmInvest Research - 5 Jan 2022