AmInvest Research Reports

Stock on Radar - Kossan Rubber Industries

Publish date: Fri, 17 Mar 2023, 08:48 AM
0 7,512
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Kossan Rubber Industries broke out from its 4.5-month rectangle pattern with a long white candle yesterday, implying that a
bullish reversal sign may have occurred. In view that the 20-day and 50-day EMAs are starting to turn upwards, likely suggesting
that bullish momentum is picking up. A bullish bias may emerge above the
RM1.15 level, with a stop-loss set at RM1.06, below
the 50-day EMA. Towards the upside, the near-term resistance level is seen at
RM1.40, followed by RM1.50.

Entry : RM1.15–1.24

Target : RM1.40, RM1.50

Exit : RM1.06


Source: AmInvest Research - 17 Mar 2023

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