Lotte Chemical Titan Holding consolidated and tested the RM2.26 resistance level. With its RSI indicator pointing upward, coupled with a higher 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 RM2.34 and RM2.37. The downside support is projected at RM2.18. Traders are advised to exit on a breach to avoid further losses.

Trading Call: Buy on breakout RM2.26

Target: RM2.34, RM2.37 (time frame: 2-4 weeks)

Exit: RM2.18
 

Source: AmInvest Research - 28 Jan 2022