Can-One is moving sideways, testing the RM3.70 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 RM3.88 and RM3.97. The downside support is projected at RM3.46. Traders are advised to exit on a breach to avoid further losses.

Trading Call: Buy on breakout RM3.70

Target: RM3.88, RM3.97 (time frame: 2-4 weeks)

Exit: RM3.46
 

Source: AmInvest Research - 14 Jan 2022