PublicInvest Research

Technical Buy - LUXCHEM (5143)

Publish date: Tue, 25 Jun 2024, 10:38 AM
0 10,968
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9th Floor, Bangunan Public Bank
6, Jalan Sultan Sulaiman, 50000 Kuala Lumpur
T 603 2031 3011 | F 603 2272 3704 | Dealing Line 603 2260 6718

  • Target Price RM0.630, RM0.670
  • Last closing price: RM0.605
  • Potential return: 4.1%, 10.7%
  • Support: RM0.595
  • Stop Loss: RM0.560

        Possible for further upside. LUXCHEM is potentially extending its current uptrend, with anticipation of continuous improvement in both momentum and trend in the near term. Should immediate resistance level of RM0.630 be broken with renewed buying interest, it may continue to lift price higher to subsequent resistance level of RM0.670.

        However, failure to hold on to support level of RM0.595 may indicate weakness in the share price and hence, a cut-loss signal.

        Source: PublicInvest Research - 25 Jun 2024

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