Cahya Mata Sarawak was testing the RM3.00 level in its latest sessions. With a neutral RSI level, it may resume the rebound momentum in the upcoming sessions. If this happens, its shortterm target price will be RM3.15 followed by RM3.33. The support price is anticipated at RM2.79, 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: RM3.15, RM3.33 (time frame: 3-6 weeks)

Exit: RM2.79

Source: AmInvest Research - 2 Aug 2019