Focus Point Holdings is consolidating; testing the RM0.63 resistance level. With its RSI indicator pointing upwards, coupled with higher trading volume, we see a possibility for a technical breakout. If this happens, we expect it to move towards the short-term target prices of RM0.65 and RM0.67. The downside support is projected at RM0.59. Traders are advised to exit on a breach to avoid further losses.

Trading Call: Buy on breakout RM0.63

Target: RM0.65, RM0.67 (time frame: 2-4 weeks)

Exit: RM0.59

Source: AmInvest Research - 12 Nov 2020