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Rakuten Trade Research Reports

Author: rakutentrade   |   Latest post: Thu, 5 Dec 2019, 9:25 AM

 

Technical View - Kelington Group Bhd (KGB, 0151)

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Kelington Group Bhd (0151)

  • KGB closed 3.9% or 5 sen higher to close at RM1.33 yesterday.
  • Technically, KGB has hit its all-time-high of RM1.35 recently and continues to close above all key moving averages displaying bullish outlook for the stock.
  • Following the recent contract secured worth RM53m, we expect the rally to persist thereby potentially pushing the price to trend higher.
  • From here, resistance levels are identified at RM1.34 (R1) and further to RM1.35 (R2).
  • Conversely, support levels are expected at RM1.27 (S1) and RM1.24 (S2).

Source: Rakuten Research - 17 Apr 2019

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Labels: KGB

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