Sern Kou Resources rose and touched the RM0.645 resistance level. With its RSI indicator pointing upward, coupled with a 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 RM0.67 and RM0.695. The downside support is projected at RM0.60. Traders are advised to exit on a breach to avoid further losses.

Trading Call: Buy on breakout RM0.645

Target: RM0.67, RM0.695 (time frame: 2-4 weeks)

Exit: RM0.60
 

Source: AmInvest Research - 2 Dec 2021