Perak Transit rose and tested the RM0.81 resistance level. With its RSI 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 RM0.845 and RM0.855. The downside support is projected at RM0.78. Traders are advised to exit on a breach to avoid further losses.

Trading Call: Buy on breakout RM0.81

Target: RM0.845, RM0.855 (time frame: 2-4 weeks)

Exit: RM0.78

Source: AmInvest Research - 9 Apr 2021