Tek Seng Holdings is moving higher, touching the RM1.19 resistance level. With the RSI indicator pointing upwards, coupled with a higher low candlestick pattern, we think that the bullish momentum is still intact and will continue to travel towards the short-term target price of RM1.33 followed by RM1.47. In this case, the downside support is marked at RM1.05, whereby traders may exit on a breach to avoid the risk of a further correction

Trading Call: Buy on breakout RM1.19
Target: RM1.33, RM1.47 (time frame: 2-4 weeks)
Exit: RM1.05

Source: AmInvest Research - 5 Aug 2020