No, you need something like this.
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It does both pressure and vacum testing. When you get 120psi that is secondary compression and does not do any testing of primary compression. To test that you seal up the engine and apply about 7 psi pressure and see if it holds then apply a vacuum and see if it holds. Primary and secondary compression are tested completely differently. A bad crank seal or a torn intake boot has destroyed many chainsaw pistons and cylinders due to running lean. If you are going to get serious about fixing 2 strokes and especially chainsaws you really need some special tools. You may not get into splitting crankcases and pressing bearings but you need to learn to pressure and vac test.