PLS Plantations has been consolidating sideways during the last few sessions.With the rising RSI, it may break the resistance level of RM0.94. If this happens, the short-term target price will be RM1.03 followed by RM1.10. Meanwhile, it may lose its bullish momentum if it fails to break the resistance in the near term. In this case, support is anticipated at RM0.86, whereby traders may exit on a breach to avoid the risk of a further correction.
Trading Call: Buy on continuation above RM0.94
Target: RM1.03, RM1.10 (time frame: 3-6 weeks)
Exit: RM0.86
Source: AmInvest Research - 30 May 2019
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Created by AmInvest | Nov 25, 2024