MI Technovation closed with a long white candle today and is currently trading above 20-day EMA, supported by notable volume. This is further reinforced by the EMA lines turning upward, signalling a potential reversal from a 2-week short-term downtrend. Resistance levels may be offered at RM2.00, followed by RM2.10. Toward the downside, the stop-loss is set at RM1.69, positioned below the second support level.

Entry : RM1.80-1.82

Target : RM2.00, RM2.10

Exit : RM1.69

Source: AmInvest Research - 21 Dec 2023