Lagenda Properties rose and touched the RM1.32 resistance level. With its RSI indicator pointing upward, coupled with a higher low candle stick pattern, there is a good chance that it would experience a technical breakout and head towards the short-term target price of RM1.37, followed by RM1.40. The downside support is marked at RM1.25. Traders are advised to exit on a breach to avoid further losses.

Trading Call: Buy on breakout RM1.32

Target: RM1.37, RM1.40 (time frame: 2-4 weeks)

Exit: RM1.25
 

Source: AmInvest Research - 25 Jan 2022