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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 surged and tested the RM0.275 resistance level. With its RSI indicator pointing upwards, coupled with higher high candle stick pattern, we see that there is a possibility it will experience a technical breakout. If this happens, expect it to travel towards the short-term target prices of RM0.295 and RM0.31. The downside support is anticipated at RM0.245, whereby traders may exit on a breach to avoid the risk of a further correction

Trading Call: Buy on breakout RM0.275
Target: RM0.295, RM0.31 (time frame: 2-4 weeks)
Exit: RM0.245

Source: AmInvest Research - 17 Sept 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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