RCE Capital rose and hit the RM1.77 resistance level. With its RSI indicator pointing upward, 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 RM1.83, followed by RM1.87. The downside support is marked at RM1.68. Traders are advised to exit on a breach to avoid further losses.

Trading Call: Buy on breakout RM1.77

Target: RM1.83, RM1.87 (time frame: 2-4 weeks)

Exit: RM1.68
 

Source: AmInvest Research - 21 Jan 2022