Freight Management Holdings extended its rally and tested the RM1.26 resistance level. With its RSI indicator in an uptrend, coupled with sustainable 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 RM1.34 and RM1.38. The downside support is projected at RM1.16. Traders are advised to exit on a breach to avoid further losses.

Trading Call: Buy near RM1.26

Target: RM1.34, RM1.38 (time frame: 2-4 weeks)

Exit: RM1.16

Source: AmInvest Research - 31 Mar 2021