Kumpulan Perangsang Selangor surged and tested the RM1.04 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 RM1.09 and RM1.15. The downside support is projected at RM0.935. Traders are advised to exit on a breach to avoid further losses.

Trading Call: Buy on breakout RM1.04

Target: RM1.09, RM1.15 (time frame: 2-4 weeks)

Exit: RM0.935

Source: AmInvest Research - 2 Dec 2020