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AmInvest Research Reports

Author: AmInvest   |   Latest post: Fri, 15 Nov 2019, 9:03 AM

 

Stocks on Radar - Kossan Rubber Industries (7153)

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Kossan Rubber Industries has been range-bound during recent sessions. Higher trading volume was recorded in the latest session. With the momentum indicator RSI above 60%, there is a possibility it will break above the resistance price of RM4.30, and move towards a target price of RM4.43, followed by RM4.53. The downside support is anticipated at RM4.20, whereby traders may exit on a breach to avoid the risk of a further consolidation.

Trading Call: Buy upon breakout above RM4.30
Target: RM4.43, RM4.53 (time frame: 3-6 weeks)
Exit: RM4.20

Source: AmInvest Research - 1 Oct 2019

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Labels: KOSSAN

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