• Target Price: RM0.650, RM0.675
• Last closing price: RM0.595
• Potential return: 9.2%, 13.4%
• Support: RM0.580
• Stop Loss: RM0.565

Possible for further rebound. BPLANT rebounded off its support level. 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 RM0.620 be broken, it may continue to lift price higher to subsequent resistance levels of RM0.650 and RM0.675.

However, failure to hold on to support level of RM0.580 may indicate weakness in the share price and hence, a cut-loss signal.

Source: PublicInvest Research - 6 Feb 2020