CB Industrial Product Holding rose and hit the RM1.25 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 RM1.30, followed by RM1.32. The downside support is marked at RM1.20. Traders are advised to exit on a breach to avoid further losses.
Trading Call: Buy near RM1.25
Target: RM1.30, RM1.32 (time frame: 2-4 weeks)
Exit: RM1.20
Source: AmInvest Research - 20 Jan 2022
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