AmInvest Research Reports
Stocks on Radar - Rimbunan Sawit (5113)
AmInvest
Publish date: Mon, 20 Jul 2020, 09:45 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)
Rimbunan Sawit is consolidating and moving to test the RM0.315 resistance level. With the RSI indicator pointing upwards, coupled with high trading volume, we believe that there could be a technical breakout above the resistance level. If this happens, it will travel towards the short-term target price of RM0.33 followed by RM0.355. In this case, the downside support is marked at RM0.285, whereby traders may exit on a breach to avoid the risk of a further correction
Trading Call: Buy on breakout RM0.315
Target: RM0.33, RM0.355 (time frame: 2-4 weeks)
Exit: RM0.285
Source: AmInvest Research - 20 Jul 2020
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