Kim Teck Cheong Consolidated Bhd (KTC, 0180)

• Share price closed 6.00% higher at RM0.265 on Tuesday.

• KTC entered into a consolidation phase after reaching its 52-week peak of RM0.295 in mid-March. Itbroke through two resistance thresholds at RM0.255 and RM0.26 supported by a spike in buying momentum yesterday. Coupled with the positive trend of its MA lines, share price is expected to move higher.

• Resistance levels are identified at RM0.265 (R1) and RM0.27 (R2).

• On the flipside, support levels are pegged at RM0.225 (S1) and RM0.22 (S2).

Source: Rakuten Research - 4 Oct 2023

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