KUALA LUMPUR (Dec 26): PublicInvest Research said having its share price movement well supported amid market weakness, Orion IXL Bhd could be poised for further upside after trading sideways.

In a trading ideas note today, the research house said improving RSI and MACD indicators currently signal reasonable entry level, with anticipation that continuous improvement in both momentum and trend in near term.

“Should resistance level of 12 sen be broken, it may continue to lift price higher to subsequent resistance level of 13 sen.

“However, failure to hold on to support level of 10.5 sen may indicate weakness in the share price and hence, a cut-loss signal, it said.