AmInvest Research Reports
Stocks on Radar - Sarawak Cable (5170)
AmInvest
Publish date: Wed, 24 Feb 2021, 09:22 AM
AmInvest
0 9,386
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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)
Sarawak Cable surged and tested the RM0.56 resistance level. With its RSI indicator in an uptrend, we see a possibility for a technical breakout. If this happens, we expect it to move towards the short-term target prices of RM0.59 and RM0.625. The downside support is projected at RM0.495. Traders are advised to exit on a breach to avoid further losses.
Trading Call: Buy near RM0.56
Target: RM0.59, RM0.625 (time frame: 2-4 weeks)
Exit: RM0.495
Source: AmInvest Research - 24 Feb 2021
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