P.I.E. Industrial retraced its path and touched the RM3.23 resistance level. With its 21-day moving average still in an uptrend, coupled with a higher low candle stick pattern, there is a good chance it will experience a technical rebound and head towards the short-term target price of RM3.39, followed by RM3.56. The downside support is marked at RM2.90. Traders are advised to exit on a breach to avoid further losses.

Trading Call: Buy on pullback RM3.23

Target: RM3.39, RM3.56 (time frame: 2-4 weeks)

Exit: RM2.90

Source: AmInvest Research - 21 Jan 2021