PNE PCB surged and tested the RM1.34 resistance level. With its RSI indicator pointing upwards, coupled with a higher low candle stick pattern, we see a possibility for a technical breakout. If this happens, we expect it to move towards the short-term target prices of RM1.39 and RM1.42. The downside support is projected at RM1.26. Traders are advised to exit on a breach to avoid further losses.
Trading Call: Buy on breakout RM1.34
Target: RM1.39, RM1.42 (time frame: 2-4 weeks)
Exit: RM1.26
Source: AmInvest Research - 20 Nov 2020
