KUALA LUMPUR (June 13): PublicInvest Research said MMC Corp Bhd is staging a potential breakout of its sideways channel.

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 RM1.14 be broken, it may continue to lift price higher to subsequent resistance level of RM1.19.

“However, failure to hold on to support level of RM1.03 may indicate weakness in the share price and hence, a cut-loss signal,” it said.