KUALA LUMPUR (Nov 16): PublicInvest Research said Scanwolf Corporation Bhd is potentially staging a breakout from its sideways channel, with anticipation of continuous improvement in both momentum and trend in the near term.

In a trading ideas note on Wednesday (Nov 16), the research house said that should immediate resistance level of 56.5 sen be broken with renewed buying interest, it may continue to lift price higher to subsequent resistance level of 61.5 sen.

“However, failure to hold on to support level of 50.5 sen may indicate weakness in the share price and hence, a cut-loss signal,” it said.