AmInvest Research Reports
Stock on Radar - Kim Loong Resources (KMLOONG)
AmInvest
Publish date: Fri, 08 Nov 2024, 10:12 AM
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All materials published here are prepared by AmInvest. For latest offers on AmInvest trading products and news, please refer to: https://www.aminvest.com/eng/Pages/home.aspx
Tel: +603 2036 1800 / +603 2032 2888
Fax: +603 2031 5210
Email: enquiries@aminvest.com
Office Hours
Monday to Thursday: 8:45am – 5:45pm
Friday: 8:45am – 5:00pm
(GMT +08:00 Malaysia)
Kim Loong Resources (KMLOONG | 5027)
Last Price: RM2.54 | Technical Call: BUY
| Support 1: RM2.45 | Resistance 1: RM2.70 |
| Support 2: RM2.35 | Resistance 2: RM2.80 |
| Shariah Compliant: Yes | Sector: Plantation |
We expect further upside for Kim Loong Resources after it recouped the previous session's losses and reached a new multi- year high yesterday. The stock's move above the RM2.45 resistance coupled with its rising EMAs, indicates that the near term bullish trend may persist. A bullish bias may emerge above the RM2.45 level with stop-loss set at RM2.33, below the 50-day
EMA. Towards the upside, near-term resistance level is seen at RM2.70, followed by RM2.80.
Entry: RM2.45-2.54
Target: RM2.70, RM2.80
Exit: RM2.33
Source: AmInvest Research - 8 Nov 2024
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