Censof Holdings climbed and touched the RM0.35 resistance level. With its 21-day moving average 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 RM0.365 and RM0.38. The downside support is projected at RM0.32. Traders are advised to exit on a breach to avoid further losses.

Trading Call: Buy on breakout RM0.35

Target: RM0.365, RM0.38 (time frame: 2-4 weeks)

Exit: RM0.32
 

Source: AmInvest Research - 20 Jan 2022