KUALA LUMPUR (Nov 16): PublicInvest Research said Telekom Malaysia Bhd is showing signs of recovery from its consolidation phase.

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

“Should resistance level of RM2.50 be broken, it may continue to lift price higher to subsequent resistance level of RM2.79.

“However, failure to hold on to support level of RM2.36 may indicate weakness in the share price and hence, a cut-loss signal,” it said.