PANSAR (8419) - Technical Buy: PANSAR (8419)

• Target Price: RM0.500, RM0.520
• Last closing price: RM0.455
• Potential return: 9.8%, 14.2%
• Support: RM0.420
• Stop Loss: RM0.400

Possible for sideways breakout. Attempting to break away from sideways movement, PANSAR’s share price is poised for further upside. Bullish RSI and improving MACD indicators currently signal reasonable entry level, with anticipation of continuous improvement in both momentum and trend in near term. Should resistance level of RM0.460 be genuinely broken, it may continue to lift price higher to the subsequent resistance levels of RM0.500 and RM0.520.
However, failure to hold on to support level of RM0.420 may indicate weakness in the share price and hence, a cut-loss signal.

Source: PublicInvest Research - 23 Jan 2018

http://klse.i3investor.com/blogs/PublicInvest/145134.jsp