Perak Transit was testing the RM0.255 level in its last session. With an RSI level above 70%, the momentum may propel it to climb above this mark with a target price of RM0.28, followed by RM0.305. Meanwhile, it may drift sideways if it fails to cross the RM0.255 mark in the near term. In this case, support is anticipated at RM0.23, whereby traders may exit on a breach to avoid the risk of a further correction.

Trading Call: Buy upon breakout above RM0.25
Target: RM0.28, RM0.305 (time frame: 3-6 weeks)
Exit: RM0.23

Source: AmInvest Research - 13 Nov 2019