- Target Price: RM0.600, RM0.630
- Last closing price: RM0.555
- Potential return: 8.1%, 13.5%
- Support: RM0.530
- Stop Loss: RM0.515
Possible for bottom fishing. ALCOM
is showing signs of potential breakout from its sideways channel.
Improving RSI and MACD indicators currently signal reasonable entry
level, with anticipation of continuous improvement in both momentum and
trend in near term. Should resistance level of RM0.560 be broken, it may
continue to lift price higher to subsequent resistance levels of
RM0.600 and RM0.630.
However, failure to hold on to support level of RM0.530 may indicate weakness in the share price and hence, a cut-loss signal.
