Sapura Energy was testing the RM0.315 level in its latest session. With a moderate RSI level, a bullish bias may be present above this point with a target price of RM0.365, followed by RM0.38. Meanwhile, it may continue drifting sideways if it fails to cross the RM0.315 mark in the near term. In this case, support is anticipated at RM0.285 whereby traders may exit on a breach to avoid the risk of a further correction.
Target: RM0.365, RM0.38 (time frame: 3-6 weeks)
Source: AmInvest Research - 19 Feb 2019