AmInvest Research Reports
Stock on Radar - Sarawak Oil Palms (SOP)
AmInvest
Publish date: Mon, 04 Nov 2024, 11:09 AM
AmInvest
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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 Oil Palms (SOP | 5126)
Last Price: RM3.27 | Technical Call: BUY
| Support 1: RM3.20 | Resistance 1: RM3.50 |
| Support 2: RM3.00 | Resistance 2: RM3.70 |
| Shariah Compliant: Yes | Sector: Plantation |
Sarawak Oil Palms may trend higher after it formed a long positive candle and hit a new 52-week high on Friday. The stock's move above the key RM3.20 resistance coupled with its rising EMAs, indicates that the near term bullish trend may persist. A bullish bias may emerge above the RM3.20 level with stop-loss set at RM2.98, below the 50-day EMA. Towards the upside, near- term resistance level is seen at RM3.50, followed by RM3.70.
Entry: RM3.20-3.27
Target: RM3.50, RM3.70
Exit: RM2.98
Source: AmInvest Research - 4 Nov 2024
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