Pecca Group rose and is poised to test the RM3.43 resistance level. With its 21-day moving average in an uptrend coupled with a higher trading volume, there is a good chance that it would experience a technical breakout and head towards the short-term target price of RM3.57, followed by RM3.62. The downside support is marked at RM3.27. Traders are advised to exit on a breach to avoid further losses.

Trading Call: Buy on breakout RM3.43

Target: RM3.57, RM3.62 (time frame: 2-4 weeks)

Exit: RM3.27
 

Source: AmInvest Research - 4 Feb 2022