Superlon Holdings surged higher to challenge the RM0.835 resistance level. With the momentum indicator RSI pointing upward, coupled with higher trading volume, we foresee that it could continue to travel towards the short-term target prices of RM0.895 and RM0.935. If it fails to trade above the resistance level, expect a sideway consolidation movement. In this case, the downside support is marked at RM0.785, whereby traders may exit on a breach to avoid the risk of a further correction

Trading Call: Buy on breakout RM0.835
Target: RM0.895, RM0.935 (time frame: 2-4 weeks)
Exit: RM0.785

Source: AmInvest Research - 7 Aug 2020