SKP Resources jumped and touched the RM1.50 resistance level. With higher trading volume sighted, coupled with a higher low candlestick pattern, we see that there is a possibility it will experience a technical breakout. If this happens, expect it to travel towards the short-term target prices of RM1.61 and RM1.67. The downside support is anticipated at RM1.43, whereby traders may exit on a breach to avoid the risk of a further correction

Trading Call: Buy on breakout RM1.50
Target: RM1.61, RM1.67 (time frame: 2-4 weeks)
Exit: RM1.43

Source: AmInvest Research - 26 Aug 2020