Tomypak Holdings surged to test the RM0.935 resistance level. With its RSI indicator pointing upwards, coupled with sustainable trading volume, we think there could be a technical breakout. If this happens, we expect it to move towards the short-term target prices of RM0.98 and RM1.00. The downside support is projected at RM0.89. Traders are advised to exit on a breach to avoid further losses.

Trading Call: Buy on breakout RM0.935

Target: RM0.98, RM1.00 (time frame: 2-4 weeks)

Exit: RM0.89

Source: AmInvest Research - 20 Oct 2020