Sarawak Consolidated Industries is moving sideways to test the RM3.69 resistance level. With its RSI indicator pointing upwards, coupled with higher trading volume, we see that there is a possibility it will experience a technical breakout. If this happens, expect it to travel towards the short-term target prices of RM3.83 and RM4.05. The downside support is anticipated at RM3.42, whereby traders may exit on a breach to avoid the risk of a further correction

Trading Call: Buy on breakout RM3.69
Target: RM3.83, RM4.05 (time frame: 2–4 weeks)
Exit: RM3.42

Source: AmInvest Research - 4 Sept 2020