Cahya Mata Sarawak crossed above the RM3.00 level during its latest session. With a moderate RSI level, a bullish bias may be present above this mark with a target price of RM3.38. Meanwhile, it may turn sideways if it dips back below the RM3.00 mark in the near term. In this case, the immediate support is anticipated at RM2.77, whereby traders may exit on a breach to avoid the risk of a further correction.

Trading Call: Buy on further rebound above RM3.00

Target: RM3.38 (time frame: 3-6 weeks)

Exit: RM2.77

Source: AmInvest Research - 7 Nov 2018