Possible for sideways breakout. SOLID is staging a potential breakout from its sideways channel. Improving RSI and MACD indicators currently signal reasonable entry level, with anticipation of continuous improvement in both momentum and trend in near term. Should immediate resistance level of RM0.270 be broken with renewed buying interest, it may continue to lift price higher to subsequent resistance level of RM0.285.
However, failure to hold on to support level of RM0.245 may indicate weakness in the share price and hence, a cut-loss signal.
Source: PublicInvest Research - 28 Jul 2021
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Created by PublicInvest | Apr 26, 2024