Hiap Teck Venture leapt and touched the RM0.535 resistance level. With its 21-day moving average indicator pointing upwards, coupled with a higher low candlestick pattern, there is a good chance that it would experience a technical breakout and head towards the short-term target price of RM0.555, followed by RM0.58. The downside support is marked at RM0.495. Traders are advised to exit on a breach to avoid further losses.

Trading Call: Buy on breakout RM0.535

Target: RM0.555, RM0.58 (time frame: 2-4 weeks)

Exit: RM0.495

Source: AmInvest Research - 27 Apr 2021