Kelington Group jumped and tested the RM1.30 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 RM1.35 and RM1.40. The downside support is projected at RM1.20. Traders are advised to exit on a breach to avoid further losses.

Trading Call: Buy near RM1.30

Target: RM1.35, RM1.40 (time frame: 2-4 weeks)

Exit: RM1.20
 

Source: AmInvest Research - 27 Aug 2021