Kelington Group rose and tested the RM2.04 resistance level with higher trading volume. With its RSI indicator in an uptrend, we see a possibility for a technical breakout. If this happens, we expect it to move towards the short-term target prices of RM2.16 and RM2.23. The downside support is projected at RM1.89. Traders are advised to exit on a breach to avoid further losses.

Trading Call: Buy on breakout RM2.04

Target: RM2.16, RM2.23 (time frame: 2-4 weeks)

Exit: RM1.89

Source: AmInvest Research - 30 Mar 2021