Rimbunan Sawit surged and tested the RM0.275 resistance level. With its RSI indicator pointing upwards, coupled with higher high candle stick pattern, 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 RM0.295 and RM0.31. The downside support is anticipated at RM0.245, whereby traders may exit on a breach to avoid the risk of a further correction

Trading Call: Buy on breakout RM0.275
Target: RM0.295, RM0.31 (time frame: 2-4 weeks)
Exit: RM0.245

Source: AmInvest Research - 17 Sept 2020