Greatech Technology is moving sideways, testing the RM5.07 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 RM5.28 and RM5.40. The downside support is projected at RM4.74. Traders are advised to exit on a breach to avoid further losses.
Trading Call: Buy on breakout RM5.07
Target: RM5.28, RM5.40 (time frame: 2-4 weeks)
Source: AmInvest Research - 21 Jan 2022