Poh Kong Holdings jumped and tested the RM0.845 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 RM0.885 and RM0.92. The downside support is projected at RM0.805. Traders are advised to exit on a breach to avoid further losses.

Trading Call: Buy near RM0.845

Target: RM0.885, RM0.92 (time frame: 2-4 weeks)

Exit: RM0.805

Source: AmInvest Research - 10 May 2021