Cahya Mata Sarawak is poised to test the RM1.60 resistance level. During its latest session, we saw it forming a bullish white candle with higher trading volume, indicating that a bullish momentum has kicked in. If it crosses the resistance, we may see it travelling towards the short-term target prices of RM1.72 and RM1.86. In this case, the downside support is anticipated at RM1.43, whereby traders may exit on a breach to avoid the risk of a further correction

Trading Call: Buy on breakout RM1.60
Target: RM1.72, RM1.86 (time frame: 2-4 weeks)
Exit: RM1.43