Sarawak Plantation has rebounded from its low to test the immediate resistance level of RM1.78. With a rising RSI, there is a possibility it will break above RM1.78, and move towards the target prices of RM1.86 and RM1.90. The immediate support is anticipated at RM1.68, whereby traders may exit on a breach to avoid the risk of a further consolidation.
Trading Call: Buy near RM1.78
Target: RM1.86, RM1.90 (time frame: 3-6 weeks)
Exit: RM1.68
Source: AmInvest Research - 11 Feb 2020
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Created by AmInvest | Nov 25, 2024