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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Created by AmInvest | Dec 06, 2024