Cahya Mata Sarawak broke past the RM1.80 resistance level. Given that the RSI indicator is pointing upwards, coupled with a higher lows candlestick pattern, these indicate a bullish momentum has kicked in. If it trades above the resistance, we may see it travelling towards the short-term target prices of RM1.86 and RM1.90. The downside support is anticipated at RM1.68, whereby traders may exit on a breach to avoid the risk of a further correction

Trading Call: Buy on breakout RM1.80

Target: RM1.86, RM1.90 (time frame: 2-4 weeks)

Exit: RM1.68

Source: AmInvest Research - 10 Jul 2020