PublicInvest Research

Author: PublicInvest   |   Latest post: Fri, 13 Dec 2019, 10:07 AM


Technical Buy - CUSCAPI (0051)

Author:   |    Publish date:

  • Target Price: RM0.200, RM0.210
  • Last closing price: RM0.180
  • Potential return: 11.1%, 16.6%
  • Support: RM0.170
  • Stop Loss: RM0.160

Possible for bottom fishing. CUSCAPI is attempting to break out of its consolidation stage. Improving RSI and MACD indicators currently signal reasonable entry level, with anticipation of continuous improvement in both momentum and trend in near term. Should resistance level of RM0.190 be broken, it may continue to lift price higher to subsequent resistance levels of RM0.200 and RM0.210.

However, failure to hold on to support level of RM0.170 may indicate weakness in the share price and hence, a cut-loss signal.

Source: PublicInvest Research - 30 Oct 2019

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