RHB Investment Research Reports

Trading Stocks - Sarawak Oil Palms

Publish date: Tue, 20 Feb 2024, 10:28 AM
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Sarawak Oil Palms’ price is set for an uptrend after bouncing off the 21-day SMA line and surpassing the MYR2.86 immediate resistance level yesterday – backed by strong trading volume. If it manages to sustain above that level, the bulls may drive the stock’s price towards the MYR3 mark, followed by the next resistance at MYR3.50. Conversely, a decline below the MYR2.70 support negates the bullish setup.

Source: RHB Securities Research - 20 Feb 2024

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