Hiap Teck Venture surged and tested the RM0.255 resistance level. With its higher low candle stick pattern, 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 RM0.27 and RM0.285. The downside support is projected at RM0.225. Traders are advised to exit on a breach to avoid further losses.

Trading Call: Buy on breakout RM0.255

Target: RM0.27, RM0.285 (time frame: 2-4 weeks)

Exit: RM0.225

Source: AmInvest Research - 24 Nov 2020