Saudee Group surged and touched the RM0.43 resistance level. With its RSI indicator pointing upwards, coupled with higher trading volume, there is a good chance for a technical breakout towards the short-term target price of RM0.455, followed by RM0.48. The downside support is marked at RM0.40. Traders are advised to exit on a breach to avoid further losses.

Trading Call: Buy on breakout RM0.43

Target: RM0.455, RM0.48 (time frame: 2-4 weeks)

Exit: RM0.40

Source: AmInvest Research - 23 Oct 2020