KUALA LUMPUR (June 10): PublicInvest Research said OCK Group Bhd is recovering from its downtrend following the formation of weekly bullish engulfing pattern a week earlier.

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 47 sen be broken, it may continue to lift price higher to subsequent resistance levels of 50 sen and 54 sen.

“However, failure to hold on to support level of 44 sen may indicate weakness in the share price and hence, a cut-loss signal,” it said.