KUALA LUMPUR (Feb 17): PublicInvest Research said AppAsia Bhd is potentially staging a breakout from its sideways channel, with anticipation of continuous improvement in both momentum and trend in the near term.

In a trading ideas note Thursday (Feb 17), the research house said should immediate resistance level of 11.5 sen be broken with renewed buying interest, it may continue to lift price higher to subsequent resistance level of 12.5 sen.

“However, failure to hold on to support level of 10 sen may indicate weakness in the share price and hence, a cut-loss signal,”it said.