Sern Kou Resources shot up and formed a long white candle in its lastest session. With an RSI level above 60%, it may continue to climb above the resistance price of RM0.595. If this happens, its short-term target price will be RM0.65 followed by RM0.705. Support price is anticipated at RM0.54, whereby traders may exit on a breach to avoid the risk of a further correction.

Trading Call: Buy upon breakout above RM0.595

Target: RM0.65, RM0.705 (time frame: 3-6 weeks)

Exit: RM0.54

Source: AmInvest Research - 23 Aug 2019