KUALA LUMPUR: Public Investment Bank (PublicInvest) said Key Asic Bhd’s shares may experience a technical rebound to go higher to 20 sen and 21.5 sen levels.
Without making new low, PublicInvest said KEYASIC’s share price formed into descending triangle pattern and presented possible rebound play.
“Improving RSI and MACD indicators signal reasonable entry level, with anticipation of continuous improvement in both momentum and trend in the near term to lift price higher to the next resistance levels of 20 sen and 21.5 sen,” it said in a note.
However, failure to hold on to support level of RM0.180 may indicate weakness in the share price and hence, a cut-loss signal, it added.