Technical Updates (9^th January 2022) – SERN KOU RESOURCES (7180)

Upon reaching a 3-month high point of RM0.760, SERNKOU had a minor retracement following the hawkish statements from the officials of Fed. Nevertheless, we still see a strong supported price level at RM0.700 and the accumulation of shares is still strong. We reiterate that SERNKOU had the potential to break the key RM0.745 resistance level and challenge RM0.800, while having an attractive risk-to-return level.

EP: RM0.705

TP: RM0.745/0.800

CL: RM0.695