Stock On Radar: Focus Point Holdings

Focus Point Holdings (0157) rose and touched the RM0.685 resistance level.

With its 21-day moving average pointing upward, 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 RM0.72, followed by RM0.735. The downside support is marked at RM0.635.

Traders are advised to exit on a breach to avoid further losses, says AmBank Research.

Trading Call: Buy on breakout RM0.685

Target: RM0.72, RM0.735 (time frame: 2-4 weeks)

Exit: RM0.635

Focus Point is the largest optical retail chain store in Malaysia and also the first and only optical retail chain store to be listed in Bursa Malaysia.

With more than 180 outlets nationwide and more than 230 eye care professionals, customers have a wide range of fashionable eyewear to choose at the concept stores.