PublicInvest Research

Author: PublicInvest   |   Latest post: Thu, 4 Jun 2020, 9:14 AM


Technical Buy: KAREX (5247)

Author:   |    Publish date:

  • Target Price: RM0.450, RM0.480
  • Last closing price: RM0.415
  • Potential return: 8.4%, 15.6%
  • Support: RM0.410
  • Stop Loss: RM0.385

Possible for further recovery. KAREX is staging a potential breakout from its sideways channel. Corresponding RSI and MACD indicators remain healthy while undergoing congestion phase, with anticipation of continuous improvement in both momentum and trend in the near term. Should resistance level of RM0.435 be broken with renewed buying interest, it may continue to lift price higher to subsequent resistance levels of RM0.450 and RM0.480.

However, failure to hold on to support level of RM0.410 may indicate weakness in the share price and hence, a cut-loss signal.

Source: PublicInvest Research - 10 Apr 2020

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Labels: KAREX

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Chart Stock Name Last Change Volume 
KAREX 0.55 +0.015 (2.80%) 8,057,600 

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