Lee Swee Kiat Group rose and tested the RM0.89 resistance level. With its RSI indicator in an uptrend, coupled with a higher low 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 RM0.92 and RM0.95. The downside support is projected at RM0.835. Traders are advised to exit on a breach to avoid further losses.

Trading Call: Buy on breakout RM0.89

Target: RM0.92, RM0.95 (time frame: 2–4 weeks)

Exit: RM0.835
 

Source: AmInvest Research - 3 Aug 2021