Kumpulan H&L High-Tech consolidated and is poised to test the RM2.14 resistance level. With its RSI indicator in an uptrend, coupled with a higher high candlestick pattern, we see a possibility for a technical breakout. If this happens, we expect it to move towards the short-term target prices of RM2.34 and RM2.40. The downside support is projected at RM1.92. Traders are advised to exit on a breach to avoid further losses.

Trading Call: Buy on breakout RM2.14

Target: RM2.34, RM2.40 (time frame: 2–4 weeks)

Exit: RM1.92

Source: AmInvest Research - 28 Apr 2021