Possible for sideways breakout. RSAWIT 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 RM0.265 be broken with renewed buying interest, it may continue to lift price higher to subsequent resistance levels of RM0.280 and RM0.290.
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 - 12 Apr 2022
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Created by PublicInvest | Sep 20, 2024