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AmInvest Research Reports

Author: AmInvest   |   Latest post: Fri, 6 Dec 2019, 5:27 PM

 

Stocks on Radar - Kossan Rubber Industries (7153)

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Kossan Rubber Industries has gapped up in its lastest session. With an RSI above 60%, it may continue to climb above the resistance price of RM4.08. If this happens, the short-term target price will be RM4.22 followed by RM4.35. It will continue to drift sideways if it fails to break above RM4.08 in the near term. Support price is then anticipated at RM3.94, whereby traders may exit on a breach to avoid the risk of a further correction.

Trading Call: Buy upon breakout above RM4.08

Target: RM4.22, RM4.35 (time frame: 3-6 weeks)

Exit: RM3.94

Source: AmInvest Research - 22 Jul 2019

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Labels: KOSSAN

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