Poh Huat Resources Holdings jumped and touched the RM1.40 resistance level. With the RSI indicator pointing upwards, coupled with higher trading colume, 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 RM1.48 and RM1.56. The downside support is anticipated at RM1.32, whereby traders may exit on a breach to avoid the risk of a further correction

Trading Call: Buy on breakout RM1.40

Target: RM1.48, RM1.56 (time frame: 2-4 weeks)

Exit: RM1.32

Source: AmInvest Research - 27 Aug 2020