• Target Price: RM0.505, RM0.540

• Last closing price: RM0.485

• Potential return: 4.1%, 11.3%

• Support: RM0.470

• Stop Loss: RM0.440

Possible for trend reversal. LUXCHEM is potentially staging a breakaway from its downtrend, with anticipation of continuous improvement in both momentum and trend in the near term. Should immediate resistance level of RM0.505 be broken with renewed buying interest, it may continue to lift price higher to subsequent resistance level of RM0.540. However, failure to hold on to support level of RM0.470 may indicate weakness in the share price and hence, a cut-loss signal.

Source: PublicInvest Research - 26 Nov 2024