Spring Art Holdings is poised to test the RM0.245 resistance level. With higher trading volume sighted, coupled with its 21-day moving average pointing upwards, we think that the bullish momentum will soon push towards the short-term target price of RM0.26 followed by RM0.28. In this case, the downside support is marked at RM0.22, whereby traders may exit on a breach to avoid the risk of a further correction

Trading Call: Buy on breakout RM0.245
Target: RM0.26, RM0.28 (time frame: 2-4 weeks)
Exit: RM0.22

Source: AmInvest Research - 17 Aug 2020