Sarawal Oil Palms is poised to test the RM3.62 resistance level. With a bullish white candlestick pattern sighted, coupled with a 21-day moving average pointing upwards, we think that the bullish momentum will soon progress towards the short-term target price of RM3.75 followed by RM3.86. In this case, the downside support is marked at RM3.40, whereby traders may exit on a breach to avoid the risk of a further correction

Trading Call: Buy on breakout RM3.62
Target: RM3.75, RM3.86 (time frame: 2-4 weeks)
Exit: RM3.40

Source: AmInvest Research - 14 Aug 2020