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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 surged and tested the RM0.275 resistance level. With its higher low candle stick pattern, coupled with higher trading volume, we see a possibility for a technical breakout. If this happens, we expect it to move towards short-term target prices of RM0.295 and RM0.325. The downside support is projected at RM0.25. Traders are advised to exit on a breach to avoid further losses.

Trading Call: Buy on breakout RM0.275

Target: RM0.295, RM0.325 (time frame: 2-4 weeks)

Exit: RM0.25

Source: AmInvest Research - 12 Oct 2020

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Labels: RSAWIT

Related Stocks

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

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