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AmInvest Research Reports

Author: AmInvest   |   Latest post: Mon, 10 May 2021, 9:54 AM

 

Stocks on Radar - Rimbunan Sawit (5113)

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Rimbunan Sawit is consolidating and moving to test the RM0.315 resistance level. With the RSI indicator pointing upwards, coupled with high trading volume, we believe that there could be a technical breakout above the resistance level. If this happens, it will travel towards the short-term target price of RM0.33 followed by RM0.355. In this case, the downside support is marked at RM0.285, whereby traders may exit on a breach to avoid the risk of a further correction

Trading Call: Buy on breakout RM0.315

Target: RM0.33, RM0.355 (time frame: 2-4 weeks)

Exit: RM0.285

Source: AmInvest Research - 20 Jul 2020

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Labels: RSAWIT

Related Stocks

Chart Stock Name Last Change Volume 
RSAWIT 0.285 0.00 (0.00%) 22,237,400 

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