S P Setia is climbing higher, testing the RM0.95 resistance level. With its RSI indicator in an uptrend, 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 RM0.985 and RM1.02. The downside support is projected at RM0.88. Traders are advised to exit on a breach to avoid further losses.

Trading Call: Buy on breakout RM0.95

Target: RM0.985, RM1.02 (time frame: 2-4 weeks)

Exit: RM0.88

Source: AmInvest Research - 17 Feb 2021