Perak Transit surged and touched the RM0.87 resistance level. With its RSI indicator in an uptrend, coupled with a rising 21-day moving average, there is a good chance it will experience a technical breakout and head towards the short-term target price of RM0.90, followed by RM0.935. The downside support is marked at RM0.81. Traders are advised to exit on a breach to avoid further losses.

Trading Call: Buy on breakout RM0.87

Target: RM0.90, RM0.935 (time frame: 2-4 weeks)

Exit: RM0.81

Source: AmInvest Research - 25 Jan 2021