Cahya Mata Sarawak breached the RM2.98 level in its latest session. With a healthy RSI level, a bullish bias may be present above this point with a target price of RM3.43. Meanwhile, it may turn sideways if it dips back below the RM3.00 mark in the near term. In this case, 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 RM2.98

Target: RM3.43 (time frame: 3-6 weeks)

Exit: RM2.77

Source: AmInvest Research - 11 Jan 2019