Focus Point Holdings is moving sideways, testing the RM0.845 resistance level. With its 21-day moving average 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 RM0.885 and RM0.92. The downside support is projected at RM0.785. Traders are advised to exit on a breach to avoid further losses.

Trading Call: Buy on breakout RM0.845

Target: RM0.885, RM0.92 (time frame: 2-4 weeks)

Exit: RM0.785

Source: AmInvest Research - 23 Feb 2021