KUALA LUMPUR (March 29): PublicInvest Research said Hume Cement Industries Bhd is staging a potential breakout from its sideways channel, with anticipation of continuous improvement in both momentum and trend in the near term.

In a technical highlights note on Tuesday (March 29), the research house said should immediate resistance level of RM1.15 be broken with renewed buying interest, it may continue to lift price higher to subsequent resistance levels of RM1.20 and RM1.23.

“However, failure to hold on to support level of RM1.09 may indicate weakness in the share price and hence, a cut-loss signal,” it said.