Pentamaster Corporation is moving sideways, testing the RM4.11 resistance level. With its RSI indicator pointing upward, coupled with a higher trading volume, we see a possibility for a technical rebound. If this happens, we expect it to move towards the short-term target prices of RM4.25 and RM4.36. The downside support is projected at RM3.86. Traders are advised to exit on a breach to avoid further losses.
Trading Call: Buy on breakout RM4.11
Target: RM4.25, RM4.36 (time frame: 2-4 weeks)
Source: AmInvest Research - 27 Jan 2022