KUALA LUMPUR (Oct 17): PublicInvest Research said Karex Bhd is showing initial signs of potential recovery from its prior downtrend.

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 48 sen be broken, it may continue to lift price higher to subsequent resistance level of 50.5 sen.

“However, failure to hold on to support level of 43 sen may indicate weakness in the share price and hence, a cut-loss signal,” it said.