• Target Price: RM0.135, RM0.145
• Last closing price: RM0.120
• Potential return: 12.5%, 20.8%
• Support: RM0.110
• Stop Loss: RM0.100

Possible for sideways breakout. STRAITS is potentially staging a breakout from its sideways channel, with anticipation of continuous improvement in both momentum and trend in the near term. Should immediate resistance level of RM0.135 be broken with renewed buying interest, it may continue to lift price higher to subsequent resistance level of RM0.145.

However, failure to hold on to support level of RM0.110 may indicate weakness in the share price and hence, a cut-loss signal.

Source: PublicInvest Research - 26 Sept 2023