Ann Joo Resources jumped and touched the RM1.94 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 RM2.03, followed by RM2.10. The downside support is marked at RM1.78. Traders are advised to exit on a breach to avoid further losses.

Trading Call: Buy on pullback RM1.94

Target: RM2.03, RM2.10 (time frame: 2-4 weeks)

Exit: RM1.78
 

Source: AmInvest Research - 3 Feb 2022