CJ Century Logistics Holdings climbed and hit the RM0.625 resistance level. With its 21-day moving average in an uptrend, 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 RM0.65 and RM0.665. The downside support is projected at RM0.585. Traders are advised to exit on a breach to avoid further losses.

Trading Call: Buy on breakout RM0.625

Target: RM0.65, RM0.665 (time frame: 2-4 weeks)

Exit: RM0.585
 

Source: AmInvest Research - 8 Feb 2022