Public Packages Holdings is moving sideways, testing the RM0.785 resistance level. With its RSI indicator 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 RM0.82 and RM0.835. The downside support is projected at RM0.74. Traders are advised to exit on a breach to avoid further losses.

Trading Call: Buy on breakout RM0.785

Target: RM0.82, RM0.835 (time frame: 2-4 weeks)

Exit: RM0.74
 

Source: AmInvest Research - 6 Jan 2022