Sarawak Oil Palms showing a bullish technical setup after climbing above the resistance on strong volume. The counter printed a long bullish candlestick and closed above the MYR2.90 resistance. The volume has increased in tandem with the share price, showing a strong bullish momentum is in play. The stock will extend its upside movement towards MYR3.05, followed by the MYR3.20 mark. On the flipside, falling below the MYR2.75 support will resume the correction phase.

Source: RHB Securities Research - 2 Sept 2024