Sarawak Oil Palms may soon test the RM3.34 resistance level. With a rising trading volume, a bullish bias may be present above this mark with a short-term target price of RM3.44 and RM3.60. Meanwhile, it may continue moving sideways if it fails to cross the RM3.34 mark in the near term. In this case, the downside support is anticipated at RM3.10, whereby traders may exit on a breach to avoid the risk of a further correction

Trading Call: Buy on breakout RM3.34

Target: RM3.44, 3.60 (time frame: 2-4 weeks) Exit: RM3.10

Source: AmInvest Research - 17 Jul 2020