YKGI Holdings surged and tested the RM0.24 resistance level. With its 21-day moving average 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 RM0.255 and RM0.275. The downside support is projected at RM0.21. Traders are advised to exit on a breach to avoid further losses.

Trading Call: Buy on breakout RM0.24

Target: RM0.255, RM0.275 (time frame: 2-4 weeks)

Exit: RM0.21
 

Source: AmInvest Research - 15 Jun 2021