Revenue Group climbed and touched the RM1.68 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 RM1.77 and RM1.81. The downside support is projected at RM1.59. Traders are advised to exit on a breach to avoid further losses.

Trading Call: Buy on breakout RM1.68

Target: RM1.77, RM1.81 (time frame: 2-4 weeks)

Exit: RM1.59
 

Source: AmInvest Research - 16 Feb 2022