Pecca Group has been range-bound during recent sessions. With the momentum indicator RSI above 50%, there is a possibility it will break above the resistance of RM1.19, and move towards a target price of RM1.28 followed by RM1.36. Meanwhile, the immediate support is anticipated at RM1.11, whereby traders may exit on a breach to avoid the risk of a further correction.

Trading Call: Buy upon breakout above RM1.19

Target: RM1.28, RM1.36 (time frame: 3-6 weeks)

Exit: RM1.11

Source: AmInvest Research - 21 Aug 2019