K-One Technology (0111)

K-One Technology is moving upwards to test the resistance level RM0.535 with higher trading volume. A bullish engulfing pattern was sighted, and we foresee that there could be a technical breakout from the resistance level. We expect it to continue propelling towards the short-term target prices of RM0.56 and RM0.60. The downside support is anticipated at RM0.45, whereby traders may exit on a breach to avoid the risk of a further correction Trading Call: Buy on breakout RM0.535

Target: RM0.56, RM0.60 (time frame: 2-4 weeks) Exit: RM0.45

Source: AmInvest Research - 15 Jun 2020