Apr 20, 2016

SERNKOU – May Trend Higher After Breakout

SernKou Stock Code 7180

sernkou analysis

Sern  Kou  Resources  may  trend  higher  after  climbing  above  the MYR0.88 level in its latest session to mark a new high. A bullish bias may be present above this point, with a target price of MYR1.00. On the  other  hand,  the  stock  may  turn  sideways  if  it  dips  back  below the  MYR0.88  level.  Support  may  be  found  at  MYR0.81,  where traders  can  exit  upon  a  breach  to  avoid  the  risk  of  a  further correction.

Source: RHB Research – 20/04/2016

The Group an integrated furniture manufacturer is principally involved in manufacturing and distribution of rubberwood and metal furniture and trading of kiln-dried rubberwood.