AmInvest Research Reports
Stocks on Radar-Cahya Mata Sarawak
AmInvest
Publish date: Tue, 19 May 2020, 08:54 AM
AmInvest
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All materials published here are prepared by AmInvest. For latest offers on AmInvest trading products and news, please refer to: https://www.aminvest.com/eng/Pages/home.aspx
Tel: +603 2036 1800 / +603 2032 2888
Fax: +603 2031 5210
Email: enquiries@aminvest.com
Office Hours
Monday to Thursday: 8:45am – 5:45pm
Friday: 8:45am – 5:00pm
(GMT +08:00 Malaysia)
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
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