KPJ Healthcare Bhd (KPJ, 5878)
- KPJ may extend its upward trajectory after it broke out from an 8-month ascending triangle patternwith a long white candle two sessions ago. As the stock pushed higher from its rising 20-day EMA, that also coincides with a 52-week high, the bullish momentum appears to be picking up.
- A bullish bias may emerge above the RM1.21 level, and should lift it towards the subsequent level ofRM1.30 (R1), followed by RM1.35 (R2).
- On the downside, stop-loss is set at RM1.15, below the 50-day EMA.
Source: Rakuten Research - 26 Oct 2023
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