Tek Seng Holdings surged above the resistance level RM0.645 with higher trading volume. With an RSI pointing upwards, the bullish momentum may continue to reach the short-term target price of RM0.685 followed by RM0.73. If it dips below RM0.645, it will move sideways for consolidation. In this case, the downside support is marked at RM0.58, whereby traders may exit on a breach to avoid the risk of a further correction

Trading Call: Buy on breakout RM0.645

Target: RM0.685, RM0.73 (time frame: 2-4 weeks)

Exit: RM0.58

Source: AmInvest Research - 23 Jun 2020