Poly Glass Fibre (M) surged and tested the RM0.71 resistance level. With its RSI indicator in an uptrend, coupled with a higher high candle stick pattern, we see a possibility for a technical breakout. If this happens, we expect it to move towards the short-term target prices of RM0.745 and RM0.77. The downside support is projected at RM0.66. Traders are advised to exit on a breach to avoid further losses.

Trading Call: Buy on breakout RM0.71

Target: RM0.745, RM0.77 (time frame: 2-4 weeks)

Exit: RM0.66
 

Source: AmInvest Research - 10 Jun 2021