AmInvest Research Reports
Stocks on Radar- Sarawak Consolidated Industries (9237)
AmInvest
Publish date: Thu, 02 Jul 2020, 09:01 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)
Sarawak Consolidated Industries is consolidating sideways below the resistance level RM2.24. With the RSI indicator trending above 50%, coupled with higher trading volume, a bullish bias may be present above the resistance level. If this happens, it will travel towards the short-term target price of RM2.32 followed by RM2.40. In this case, the downside support is marked at RM2.05, whereby traders may exit on a breach to avoid the risk of a further correction
Trading Call: Buy on breakout RM2.24
Target: RM2.32, RM2.40 (time frame: 2-4 weeks)
Exit: RM2.05
Source: AmInvest Research - 2 Jul 2020
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