KUALA LUMPUR (Oct 15): PublicInvest Research said Salutica Bhd is staging a potential recovery from its consolidation phase.

In a trading ideas note today, the research house said corresponding RSI and MACD indicators remain healthy while trending sideways, with anticipation of continuous improvement in both momentum and trend in the near term.

“Should resistance level of 48 sen be broken with renewed buying interest, it may continue to lift price higher to subsequent resistance levels of 50.5 sen.

“However, failure to hold on to support level of 43.5 sen may indicate weakness in the share price and hence, a cut-loss signal,” it said.