QES Group pulled back and tested the RM0.835 support level. With its 50-day moving average indicator in an uptrend, coupled with sustainable trading volume, we see a possibility for a technical rebound. If this happens, we expect it to move towards short-term target prices of RM0.875 and RM0.905. A downside support is projected at RM0.785. Traders are advised to exit on a breach to avoid further losses.

Trading Call: Buy near RM0.835

Target: RM0.875, RM0.905 (time frame: 2-4 weeks)

Exit: RM0.785
 

Source: AmInvest Research - 5 Aug 2021