Techfast Holdings climbed and tested the RM0.455 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 RM0.48 and RM0.51. The downside support is projected at RM0.40. Traders are advised to exit on a breach to avoid further losses.

Trading Call: Buy on breakout RM0.455

Target: RM0.48, RM0.51 (time frame: 2-4 weeks)

Exit: RM0.40

Source: AmInvest Research - 12 Mar 2021