Nextgreen Global climbed and hit the RM1.09 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 RM1.15 and RM1.19. The downside support is projected at RM1.01. Traders are advised to exit on a breach to avoid further losses.

Trading Call: Buy on breakout RM1.09

Target: RM1.15, RM1.19 (time frame: 2-4 weeks)

Exit: RM1.01
 

Source: AmInvest Research - 15 Feb 2022