KUALA LUMPUR (Dec 7): Public Investment Bank Bhd Research said without making new low during recent market weakness, Complete Logistic Services Bhd’s share price movement formed a descending triangle pattern and presented possible range trading opportunity.

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

“Should 77 sen resistance level be broken, it may continue to lift price higher to the next resistance levels of 80 sen and 87 sen.

“However, failure to hold on to support level of 69 sen may indicate weakness in the share price and hence, a cut-loss signal,” it said.