Possible for upside in Zecon, says PublicInvest Research

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KUALA LUMPUR (Oct 18):  PublicInvest Research said Zecon Bhd is establishing a new uptrend.

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 33 sen be broken, it may continue to lift price higher to subsequent resistance level of 35.5 sen.

“However, failure to hold on to support level of 30.5 sen may indicate weakness in the share price and hence, a cut-loss signal,” it said.