Fajarbaru Builder Group surged and tested the RM0.52 resistance level. With its 21-day moving average trending higher, 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 RM0.55 and RM0.575. The downside support is projected at RM0.485. Traders are advised to exit on a breach to avoid further losses.

Trading Call: Buy on breakout RM0.52

Target: RM0.55, RM0.575 (time frame: 2-4 weeks)

Exit: RM0.485

Source: AmInvest Research - 4 Dec 2020