Pecca Group pulled back and touched the RM1.23 resistance level. With its higher low candle stick pattern, coupled with higher trading volume, we think that there could be a technical breakout towards the short-term target price of RM1.27 followed by RM1.31. In this case, the downside support is marked at RM1.16, whereby traders may exit on a breach to avoid the risk of a further correction

Trading Call: Buy on pullback RM1.23

Target: RM1.27, RM1.31 (time frame: 2-4 weeks)

Exit: RM1.16

Source: AmInvest Research - 24 Sept 2020