Furniture Watchdog
SERN KOU RESOURCES (KLSE: 7180) – Preparing for Breakout Formation
SERN KOU RESOURCES (KLSE: 7180) – Preparing for Breakout Formation
We viewed SERNKOU as one of the best proxy for advancing wood prices. The share price was well supported in RM0.700 / RM0.715 during the March 2022 sell down. A consolidation pattern was formed, pending breakout while the upwards momentum remains. We see the current closing price of RM0.745 as a good buying opportunity on the trendline.
EP: RM0.745
SP1 / SP2: RM0.715 / RM0.700
R1: RM 0.805
TP: RM0.815 / RM0.875
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