Kelington Group rose and tested the RM1.79 resistance level. With its RSI indicator in an uptrend, coupled with a higher trading volume, we see a possibility for a technical breakout. If this happens, we expect it to move towards the short-term target prices of RM1.86 and RM1.88. The downside support is projected at RM1.70. Traders are advised to exit on a breach to avoid further losses.

Trading Call: Buy on breakout RM1.79

Target: RM1.86, RM1.88 (time frame: 2-4 weeks)

Exit: RM1.70
 

Source: AmInvest Research - 25 Oct 2021