Asia Poly Holdings is moving sideways and testing the RM0.285 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 RM0.305 and RM0.315. The downside support is projected at RM0.265. Traders are advised to exit on a breach to avoid further losses.

Trading Call: Buy on breakout RM0.285

Target: RM0.305, RM0.315 (time frame: 2-4 weeks)

Exit: RM0.265

Source: AmInvest Research - 6 Jan 2021