Public Packages Holdings surged and tested the RM1.13 resistance level. With its RSI indicator on an upward trend, 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 RM1.21 and RM1.28. The downside support is projected at RM1.02. Traders are advised to exit on a breach to avoid further losses.

Trading Call: Buy on breakout RM1.13

Target: RM1.21, RM1.28 (time frame: 2-4 weeks)

Exit: RM1.02

Source: AmInvest Research - 1 Dec 2020