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AmInvest Research Reports

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

 

Stocks on Radar- Rimbunan Sawit (5113)

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Rimbunan Sawit has retraced its path and consolidated near RM0.29 resistance level. With the 21-day moving average pointing upwards, coupled with the RSI indicator above the 50% threshold, we think that the bullish momentum remains intact. If it breaks out above the resistance level, expect it to move towards the short-term target prices of RM0.315 and RM0.345. In this case, the downside support is marked at RM0.245, whereby traders may exit on a breach to avoid the risk of a further correction

Trading Call: Buy on breakout RM0.29

Target: RM0.315, RM0.345 (time frame: 2-4 weeks)

Exit: RM0.245

Source: AmInvest Research - 18 Jun 2020

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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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