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Author: AmInvest   |   Latest post: Fri, 4 Dec 2020, 10:14 AM

 

Stocks on Radar-Rimbunan Sawit

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Rimbunan Sawit has touched the resistance level RM0.28 with higher trading volume. A rising RSI indicator with higher lows indicates that the bullish momentum is intact. We see that it may break out and continue to move towards the short-term target price of RM0.31 followed by RM0.32. Meanwhile, it may continue moving sideways if it fails to cross the RM0.28 mark in the near term. In this case, the downside support is expected at RM0.25, whereby traders may exit on a breach to avoid the risk of a further correction


Trading Call: Buy on breakout RM0.28
Target: RM0.31, RM0.32 (time frame: 2-4 weeks)
Exit:
RM0.25
 

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Labels: RSAWIT

Related Stocks

Chart Stock Name Last Change Volume 
RSAWIT 0.295 0.00 (0.00%) 13,853,500 

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