Freight Management Holdings is poised to test the RM0.63 resistance level. With its RSI indicator reversing from an oversold position, coupled with a sustainable trading volume, there is a good chance that it would experience a technical rebound and head towards a shortterm target price of RM0.66, followed by RM0.685. The downside support is marked at RM0.575. Traders are advised to exit on a breach to avoid further losses.

Trading Call: Buy on breakout RM0.63

Target: RM0.66, RM0.685 (time frame: 2-4 weeks)

Exit: RM0.575

Source: AmInvest Research - 9 Aug 2021