Genetec Technology rose and touched the RM2.94 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 RM3.05, followed by RM3.11. The downside support is marked at RM2.77. Traders are advised to exit on a breach to avoid further losses.

Trading Call: Buy on breakout RM2.94

Target: RM3.05, RM3.11 (time frame: 2-4 weeks)

Exit: RM2.77
 

Source: AmInvest Research - 12 Jan 2022