- Target Price RM0.600, RM0.625
- Last closing price RM0.565
- Potential return 6.1%, 10.6%
- Support RM0.555
- Stop Loss RM0.540
Possible for sideways breakout. LUXCHEM is potentially staging a breakout from its sideways breakout, with anticipation of continuous improvement in both momentum and trend in the near term. Should immediate resistance level of RM0.585 be broken with renewed buying interest, it may continue to lift price higher to subsequent resistance levels of RM0.600 and RM0.625. However, failure to hold on to support level of RM0.555 may indicate weakness in the share price and hence, a cut-loss signal.
Source: PublicInvest Research - 30 Aug 2022