HPP Holdings surged and flirted with the RM0.585 resistance level. With its RSI indicator poiting upwards, coupled with a bullish white candle stick pattern, there is a good chance that it would experience a technical breakout and head towards a short-term target price of RM0.605, followed by RM0.615. A downside support is marked at RM0.555. Traders are advised to exit on a breach to avoid further losses.

Trading Call: Buy on breakout RM0.585

Target: RM0.605, RM0.615 (time frame: 2-4 weeks)

Exit: RM0.555
 

Source: AmInvest Research - 3 Jun 2021