Lingkaran Trans Kota Holdings surged and tested the RM3.81 resistance level. With its 21-day moving average in an uptrend, coupled with a higher 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 RM3.95 and RM4.00. The downside support is projected at RM3.65. Traders are advised to exit on a breach to avoid further losses.

Trading Call: Buy on breakout RM3.81

Target: RM3.95, RM4.00 (time frame: 2-4 weeks)

Exit: RM3.65
 

Source: AmInvest Research - 8 Oct 2021