Kelington Group surged and tested the RM1.68 resistance level. With its 21-day moving average pointing upwards, coupled with its RSI indicator on an uptrend, we see a possibility for a technical breakout. If this happens, we expect it to move towards the short-term target prices of RM1.77 and RM1.86. The downside support is projected at RM1.59. Traders are advised to exit on a breach to avoid further losses.

Trading Call: Buy on breakout RM1.68

Target: RM1.77, RM1.86 (time frame: 2-4 weeks)

Exit: RM1.59

Source: AmInvest Research - 9 Dec 2020