Possible for trend reversal. Without creating new low amid market weakness, AGRICOR is potentially breaking away from its gradual downtrend, with anticipation of continuous improvement in both momentum and trend in the near term. Should immediate resistance level of RM0.525 be broken with renewed buying interest, it may continue to lift price higher to subsequent resistance levels of RM0.545 and RM0.575.
However, failure to hold on to support level of RM0.490 may indicate weakness in the share price and hence, a cut-loss signal.
Source: PublicInvest Research - 3 Oct 2024
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