KUALA LUMPUR: Share prices of Pan Malaysia Holdings Bhd and Luxchem Corp Bhd are poised for further upside with current indicators signaling reasonable entry level, said Public Investment Bank (Public Invest).
The research house said Pan Malaysia’s share price is showing sign of recovery while Luxchem’s share price picked up on an uptrend after undergoing minor pullback.
“We expect continuous improvement in both momentum and trend in near term for Pan Malaysia’s share price.
“Should resistance level of 18 sen be broken, it may continue to lift price higher to the subsequent resistance level of 20 sen,” it said in a note.
However, failure to hold on to support level of 15.5 sen may indicate weakness in the share price and hence, a cut-loss signal, it added.
For Luxchem, Public Invest said should resistance level of 86 sen be broken, it may continue to lift price higher to the subsequent resistance level of 92 sen.
“However, failure to hold on to support level of 81.5 sen may indicate weakness in the share price and hence, a cut-loss signal.”