Bahvest Resources surged and touched the RM0.545 resistance level. With its 21-day moving average in an uptrend, coupled with higher trading volume, there is a good chance it will break out and head towards the shortterm target price of RM0.565, followed by RM0.59. The downside support is marked at RM0.50. Traders are advised to exit on a breach to avoid further losses.

Trading Call: Buy on breakout RM0.545

Target: RM0.565, RM0.59 (time frame: 2-4 weeks)

Exit: RM0.50

Source: AmInvest Research - 14 Jan 2021