Kim Teck Cheong surged and tested the RM0.18 resistance level. With its RSI indicator in an uptrend, coupled with a higher trading volume, we see possibility for a technical breakout. If this happens, we expect it to move towards short-term target prices of RM0.195 and RM0.205. A downside support is projected at RM0.155. Traders are advised to exit on a breach to avoid further losses.

Trading Call: Buy on breakout RM0.18

Target: RM0.195, RM0.205 (time frame: 2-4 weeks)

Exit: RM0.155
 

Source: AmInvest Research - 4 Jun 2021