Leader Steel Holdings surged and is poised to touch the RM0.705 resistance level. With its 21-day moving average pointing upward, coupled with a higher high candle stick pattern, there is a good chance that it would experience a technical breakout and head towards the short-term target price of RM0.755, followed by RM0.775. The downside support is marked at RM0.635. Traders are advised to exit on a breach to avoid further losses.

Trading Call: Buy on breakout RM0.705

Target: RM0.755, RM0.775 (time frame: 2-4 weeks)

Exit: RM0.635
 

Source: AmInvest Research - 27 Aug 2021