Berjaya Food continued rising to test the RM2.06 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 RM2.15 and RM2.24. The downside support is projected at RM1.91. Traders are advised to exit on a breach to avoid further losses.

Trading Call: Buy on breakout RM2.06

Target: RM2.15, RM2.24 (time frame: 2-4 weeks)

Exit: RM1.91

Source: AmInvest Research - 18 May 2021