• Target Price: RM0.430, RM0.470
• Last closing price: RM0.385
• Potential return: 13.1%, 23.6%
• Support: RM0.375
• Stop Loss: RM0.345

Possible for sideways breakout. ANCOMLB is staging a potential breakout from its sideways channel. Corresponding RSI and MACD indicators remain healthy while trending sideways, with anticipation of continuous improvement in both momentum and trend in the near term. Should immediate resistance level of RM0.420 be broken with renewed buying interest, it may continue to lift price higher to subsequent resistance levels of RM0.430 and RM0.470.

However, failure to hold on to support level of RM0.375 may indicate weakness in the share price and hence, a cut-loss signal.

Source: PublicInvest Research - 10 Dec 2020