Public Packages Holdings has been range-bound during recent sessions with the immediate resistance level of RM1.25. With the momentum indicator RSI above 50%, there is a possibility it will break above RM1.25, and move towards the target prices of RM1.32 and RM1.39. The immediate support is anticipated at RM1.18, whereby traders may exit on a breach to avoid the risk of a further consolidation.

Trading Call: Buy upon breakout above RM1.25

Target: RM1.32, RM1.39 (time frame: 3-6 weeks)

Exit: RM1.18

Source: AmInvest Research - 21 Jan 2020