Poh Kong Holdings is poised to test the RM0.965 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 RM1.03 followed by RM1.15. In this case, the downside support is marked at RM0.87, whereby traders may exit on a breach to avoid the risk of a further correction

Trading Call: Buy on breakout RM0.965

Target: RM1.03, RM1.15 (time frame: 2-4 weeks)

Exit: RM0.87

Source: AmInvest Research - 18 Aug 2020