Cahya Mata Sarawak has rebounded from its low with higher trading volume. With a neutral RSI, there is a possibilibity it will break the immediate resistance of RM3.23, with a short-term target price of RM3.47 followed by RM3.70. On the downside, support level is anticipated at RM3.00 whereby traders may exit on a breach to avoid the risk of a further correction.
Trading Call: Buy upon breakout above RM3.23
Target: RM3.47, RM3.70 (time frame: 3-6 weeks)
Exit: RM3.00
Source: AmInvest Research - 28 May 2019
Chart | Stock Name | Last | Change | Volume |
---|
Created by AmInvest | Nov 25, 2024