Freight Management Holdings rose and tested the RM1.78 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 RM1.84 and RM1.90. The downside support is projected at RM1.66. Traders are advised to exit on a breach to avoid further losses.

Trading Call: Buy near RM1.78

Target: RM1.84, RM1.90 (time frame: 2-4 weeks)

Exit: RM1.66

Source: AmInvest Research - 31 May 2021