Dagang NeXchange surged and tested the RM0.865 resistance level. With its 21-day moving average in an uptrend, coupled with a higher high candle stick pattern, there is a good chance that it would experience a technical breakout and head towards the short-term target price of RM0.905, followed by RM0.925. The downside support is marked at RM0.81. Traders are advised to exit on a breach to avoid further losses.

Trading Call: Buy on breakout RM0.865

Target: RM0.905, RM0.925 (time frame: 2-4 weeks)

Exit: RM0.81
 

Source: AmInvest Research - 19 Jan 2022