Samchem Holdings surged and touched the RM1.45 resistance level with higher trading volume. With its RSI indicator pointing upwards, coupled with a higher high candle stick pattern, there is a good chance that it would experience a technical breakout and head towards the short-term target price of RM1.51, followed by RM1.57. The downside support is marked at RM1.33. Traders are advised to exit on a breach to avoid further losses.

Trading Call: Buy near RM1.45

Target: RM1.51, RM1.57 (time frame: 2-4 weeks)

Exit: RM1.33

Source: AmInvest Research - 9 Apr 2021