Hiap Tech Venture surged and tested the RM0.54 resistance level. With its RSI indicator in an uptrend, coupled with a higher trading volume, we see a possibility for a technical breakout. If this happens, we expect it to move towards short-term target prices of RM0.565 and RM0.58. A downside support is projected at RM0.48. Traders are advised to exit on a breach to avoid further losses.

Trading Call: Buy on breakout RM0.54

Target: RM0.565, RM0.58 (time frame: 2-4 weeks)

Exit: RM0.50

Source: AmInvest Research - 9 Aug 2021