AGX appears poised for a breakaway from its current downtrend, with continued improvement in both momentum and trend anticipated in the near term. Should the immediate resistance level of RM0.545 be broken with renewed buying interest, it may continue to lift price higher to subsequent resistance level of RM0.580.
AGX Group
However, failure to hold on to support level of RM0.455 may indicate weakness in the share price and hence, a cut-loss signal. Public Investment Bank maintains a Technical Buy on the counter, noting that the stock is positioned for a recovery should volume support the breakout above its current trading range.
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