Perak Transit surged and tested the RM0.295 resistance level. With the RSI indicator pointing upwards, coupled with a bullish white candlestick pattern, we think that the bullish momentum will soon push towards the short-term target price of RM0.315 followed by RM0.34. In this case, the downside support is marked at RM0.26, whereby traders may exit on a breach to avoid the risk of a further correction

Trading Call: Buy on breakout RM0.295

Target: RM0.315, RM0.34 (time frame: 2-4 weeks)

Exit: RM0.26

Source: AmInvest Research - 27 Aug 2020