Possible for sideways breakout. SMI is staging a potential breakout from its sideways channel, with anticipation of continuous improvement in both momentum and trend in the near term. Should immediate resistance level of RM0.225 be broken with renewed buying interest, it may continue to lift price higher to subsequent resistance level of RM0.235.
However, failure to hold on to support level of RM0.205 may indicate weakness in the share price and hence, a cut-loss signal.
Source: PublicInvest Research - 21 Oct 2021
Created by PublicInvest | Aug 08, 2022