Sarawak Consolidated Industries may soon test the RM2.40 resistance level. With a rising RSI, a bullish bias may be present above this mark with the short-term target prices of RM2.63 and RM2.75. Meanwhile, it may continue moving sideways if it fails to cross the RM2.40 mark in the near term. In this case, the downside support is anticipated at RM2.17, whereby traders may exit on a breach to avoid the risk of a further correction

Trading Call: Buy upon breakout above RM2.40

Target: RM2.63, RM2.75 (time frame: 3-6 weeks)

Exit: RM2.17

Source: AmInvest Research - 30 Jan 2020