P.I.E. Industrial rebounded and tested the RM3.19 resistance level. With its RSI indicator in an uptrend, coupled with a sustainable 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 RM3.30 and RM3.43. The downside support is projected at RM2.99. Traders are advised to exit on a breach to avoid further losses.

Trading Call: Buy on breakout RM3.19

Target: RM3.30, RM3.43 (time frame: 2–4 weeks)

Exit: RM2.99

Source: AmInvest Research - 13 Aug 2021