Sern Kou has retraced to below the RM0.855 key level and this has become the new resistance. With an RSI below 50%, this indicates that it is consolidating. However, if it can close above RM0.855 in the coming session, momentum may reemerge and its next short-term target prices will be RM0.91 and RM0.98. In this case, support is anticipated at RM0.73, whereby traders may exit on a breach to avoid the risk of a further correction.
Trading Call: Buy upon breakout above RM0.855
Target: RM0.91, RM0.98 (time frame: 3-6 weeks)
Exit: RM0.73
Source: AmInvest Research - 22 Nov 2019
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Created by AmInvest | Nov 25, 2024