Tek Seng rose and tested the RM0.645 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 RM0.675 and RM0.705 The downside support is projected at RM0.585. Traders are advised to exit on a breach to avoid further losses.

Trading Call: Buy on breakout RM0.645

Target: RM0.675, RM0.705 (time frame: 2-4 weeks)

Exit: RM0.585

Source: AmInvest Research - 27 Apr 2021