Kumpulan Perangsang Selangor surged and touched the RM0.89 resistance level. With its RSI indicator pointing upwards, coupled with higher trading volume, there is a good chance that it would experience a technical breakout and head towards the short-term target price of RM0.94, followed by RM0.985. The downside support is marked at RM0.825. Traders are advised to exit on a breach to avoid further losses.

Trading Call: Buy on pullback RM0.89

Target: RM0.94, RM0.985 (time frame: 2-4 weeks)

Exit: RM0.825

Source: AmInvest Research - 25 Feb 2021