Perak Transit jumped and touched the RM0.68 resistance level. With its 21-day moving average indicator moving upward, coupled with a bullish white candle stick pattern, there is a good chance that it would experience a technical breakout and head towards the short-term target price of RM0.705, followed by RM0.73. The downside support is marked at RM0.63. Traders are advised to exit on a breach to avoid further losses.

Trading Call: Buy on breakout RM0.68

Target: RM0.705, RM0.73 (time frame: 2-4 weeks)

Exit: RM0.63
 

Source: AmInvest Research - 11 Oct 2021