Possible for further upside in Star Media, says PublicInvest Research

KUALA LUMPUR (Dec 23): PublicInvest Research said Star Media Group Bhd is attempting to pick up its prior uptrend following its recent pullback.

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 50 sen be broken, it may continue to lift price higher to subsequent resistance level of 53 sen.

“However, failure to hold on to support level of 46.5 sen may indicate weakness in the share price and hence, a cut-loss signal,” it said.

Source: TheEdgeMarkets