Muda Holdings consolidated and is poised to test the RM2.80 resistance level. With its RSI indicator 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 RM2.90 and RM2.97. The downside support is projected at RM2.63. Traders are advised to exit on a breach to avoid further losses.

Trading Call: Buy on breakout RM2.80

Target: RM2.90, RM2.97 (time frame: 2-4 weeks)

Exit: RM2.63
 

Source: AmInvest Research - 7 Jan 2022