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AmInvest Research Reports

Author: AmInvest   |   Latest post: Thu, 26 Nov 2020, 4:49 PM

 

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

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Chart Stock Name Last Change Volume 
RSAWIT 0.275 -0.005 (1.79%) 4,512,000 

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