Possible For Bullish Recovery for Shin Yang, says PublicInvest Research

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KUALA LUMPUR (Jan 17): PublicInvest Research said Shin Yang Shipping Corp Bhd is attempting to stage a potential recovery from its consolidation phase.

In a trading ideas note today, the research house said improving RSI and MACD indicators currently signal reasonable entry level, with anticipation of continuous improvement in both momentum and trend in near term.

“Should resistance level of 25 sen be broken, it may continue to lift price higher to subsequent resistance levels of 27 sen and 29 sen. 

“However, failure to hold on to support level of 20.5 sen may indicate weakness in the share price and hence, a cut-loss signal,” it said.