Reservoir Link Energy rose and touched the RM0.565 resistance level. With its RSI indicator pointing upward, coupled with a sustainable 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 RM0.585 and RM0.60. The downside support is projected at RM0.53. Traders are advised to exit on a breach to avoid further losses.

Trading Call: Buy on breakout RM0.565

Target: RM0.585, RM0.60 (time frame: 2-4 weeks)

Exit: RM0.53
 

Source: AmInvest Research - 19 Jan 2022