Technical Buy: LUXCHEM (5143)

• Target Price: RM0.555, RM0.585
• Last closing price: RM0.530
• Potential return: 4.7%, 10.3%
• Support: RM0.505
• Stop Loss: RM0.495

Possible for bottom fishing. LUXCHEM is showing early sign of recovery from its consolidation phase. 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 RM0.555 be broken, it may continue to lift price higher to subsequent resistance level of RM0.585.
However, failure to hold on to support level of RM0.505 may indicate weakness in the share price and hence, a cut-loss signal.

Source: PublicInvest Research - 3 May 2019

https://klse.i3investor.com/blogs/PublicInvest/204874.jsp