Tomypak Holdings is trending higher and touching the RM0.79 resistance level. With higher trading volume coupled with higher highs candlestick patterns, we see that the bullish momentum will continue to move towards the short-term target prices of RM0.835 and RM0.885. If it fails to trade above the reistance level RM0.79, expect a sideway consolidation movement. The downside support is anticipated at RM0.71, whereby traders may exit on a breach to avoid the risk of a further correction

Trading Call: Buy on breakout RM0.79

Target: RM0.835, RM0.885 (time frame: 2-4 weeks)

Exit: RM0.71

Source: AmInvest Research - 6 Aug 2020