- Target Price: RM0.410
- Last closing price: RM0.360
- Potential return: 13.8%
- Support: RM0.345
- Stop Loss: RM0.335
Possible for further upside. SANBUMI
is showing signs of potential breakout from its sideways channel.
Improving MACD and RSI indicators currently signal reasonable entry
level, with anticipation of continuous improvement in both momentum and
trend in near term. Should resistance level of RM0.375 be genuinely
broken, it may continue to lift price higher to subsequent resistance
level of RM0.410.
However, failure to hold on to support level of RM0.345 may indicate weakness in the share price and hence, a cut-loss signal.
