Bermaz Auto rose and hit the RM1.72 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 RM1.79, followed by RM1.82. The downside support is marked at RM1.64. Traders are advised to exit on a breach to avoid further losses.

Trading Call: Buy on breakout RM1.72

Target: RM1.79, RM1.82 (time frame: 2-4 weeks)

Exit: RM1.64
 

Source: AmInvest Research - 16 Feb 2022