Master-Pack Group surged higher to touch the resistance level RM2.10. With an RSI pointing upwards, and coupled with higher trading volume, we think that it could break out from the immediate resistance. If this happens, it may climb towards the short-term target price of RM2.25 followed by RM2.30. In this case, the downside support is marked at RM1.92, whereby traders may exit on a breach to avoid the risk of a further correction.

Trading Call: Buy on breakout RM2.10

Target: RM2.25, RM2.30 (time frame: 2-4 weeks)

Exit: RM1.92

Source: AmInvest Research - 29 May 2020