Sapura Energy tested the RM0.15 resistance level with higher trading volume. With its 21-day moving average indicator in an uptrend, we see a possibility for a technical rebound. If this happens, we expect it to move towards the short-term target prices of RM0.16 and RM0.165. The downside support is projected at RM0.135. Traders are advised to exit on a breach to avoid further losses.

Trading Call: Buy near RM0.15

Target: RM0.16, RM0.165 (time frame: 2-4 weeks)

Exit: RM0.135

Source: AmInvest Research - 25 Mar 2021