KESM Industries is consolidating, testing the RM12.48 resistance level. With its RSI indicator in an uptrend, we see a possibility for a technical breakout. If this happens, we expect it to move towards the short-term target prices of RM13.00 and RM13.50. The downside support is projected at RM11.80. Traders are advised to exit on a breach to avoid further losses.

Trading Call: Buy on breakout RM12.48

Target: RM13.00, RM13.50 (time frame: 2-4 weeks)

Exit: RM11.80
 

Source: AmInvest Research - 13 Sept 2021