Sern Kou Resources rose and touched the RM0.745 resistance level. With its RSI indicator pointing upward, coupled with a higher trading volume, there is a good chance that it would experience a technical breakout and head towards the short-term target price of RM0.78, followed by RM0.805. The downside support is marked at RM0.685. Traders are advised to exit on a breach to avoid further losses.
Trading Call: Buy on breakout RM0.745
Target: RM0.78, RM0.805 (time frame: 2-4 weeks)
Source: AmInvest Research - 27 Jan 2022