Possible for bottom fishing in Nextgreen Global, says PublicInvest Research

TheEdge Tue, Dec 24, 2019 08:31am - 4 years View Original


KUALA LUMPUR (Dec 24): PublicInvest Research said Nextgreen Global Bhd is showing initial signs of 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 40 sen be broken, it may continue to lift price higher to subsequent resistance levels of 41.5 sen and 43 sen.

“However, failure to hold on to support level of 38 sen may indicate weakness in the share price and hence, a cut-loss signal,” it said.

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