KARYON

Sector: Industrial Products & Services (Chemicals)

Analysed on 29/08/2021

KARYON has been retraced from its peak at RM 0.33 and volatility contraction pattern (VCP) is formed. KARYON has gone through price contraction with reduce in volume since end of May 2021. KARYON did not manage to close above its resistance at RM 0.28 on last Friday. Investor may monitor for its resistance breakout at RM 0.28. Considering the good QR posted recently, we believe that new uptrend may start once it manages to break its resistance.

Reason to monitor: Potential Technical Breakout

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