Lagenda Properties rose and tested the RM1.58 resistance level with higher trading volume. With its 21-day moving average indicator in an uptrend, coupled with a higher high candle stick pattern, we see a possibility for a technical breakout. If this happens, we expect it to move towards the short-term target prices of RM1.63 and RM1.66. The downside support is projected at RM1.52. Traders are advised to exit on a breach to avoid further losses.

Trading Call: Buy on breakout RM1.58

Target: RM1.63, RM1.66 (time frame: 2-4 weeks)

Exit: RM1.52

Source: AmInvest Research - 29 Mar 2021