Sarawak Consolidated Industries is moving sideways, testing the RM1.78 resistance level. With its RSI indicator in an uptrend, coupled with higher trading volume, we see a possibility for a technical breakout. If this happens, we expect it to move towards the short-term target prices of RM1.90 and RM2.01. The downside support is projected at RM1.64. Traders are advised to exit on a breach to avoid further losses.

Trading Call: Buy on breakout RM1.78

Target: RM1.90, RM2.01 (time frame: 2–4 weeks)

Exit: RM1.64

Source: AmInvest Research - 12 Apr 2021