Public Packages Holdings may soon move higher to test the resistance level RM0.76. With the recent trend of higher lows coupled with higher trading volume, they suggest that the bullish momentum has built up. If it trades above the resistance level, we foresee that it will move towards the short-term target prices of RM0.80 and RM0.88. In this case, the downside support is marked at RM0.68, whereby traders may exit on a breach to avoid the risk of a further correction

Trading Call: Buy on breakout RM0.76

Target: RM0.80, RM0.88 (time frame: 2-4 weeks)

Exit: RM0.68

Source: AmInvest Research - 12 May 2020