KUALA LUMPUR: BCM Alliance Bhd’s share price is poised for bottoming out from consolidation phase, said Public Investment Bank.
The research house said the share price attempts to break away from side-way movement.
“Bullish RSI and improving MACD indicators currently signal reasonable entry level, with anticipation of continuous improvement in both momentum and trend in near term,” it said in a note.
Should resistance level of 19 sen be broken, PublicInvest said the shares may continue to lift price higher to the subsequent resistance levels of 20 sen and 21 sen.
“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.