KUALA LUMPUR (June 11): PublicInvest Research said Peterlabs Holdings Bhd is showing initial signs of recovery from its consolidation phase.

In a trading ideas note today, the research house said improving RSI and MACD indicators currently signal reasonable entry level, with anticipation of continuous improvement in both momentum and trend in near term to lift price higher to subsequent resistance levels of 24 sen.

“However, failure to hold on to support level of 20 sen may indicate weakness in the share price and hence, a cut-loss signal,” it said.