KARYON

Sector: Industrial Products & Services (Chemicals)

Analysed on 28/09/2021

KARYON has retraced from its peak at RM 0.315 and experienced a false break at its support level (RM 0.28) recently. KARYON managed to stay above its support level and closed at RM 0.29 on 28 Sep 2021. Both EMA25 and EMA50 are trending upward provide an indication that KARYON is still on uptrend. Recently, the directors of the company have acquired a total of 1,600,000 shares through open market in the range of RM 0.28 to RM 0.295. The acquisition of shares provides an indication that the directors are confident with the company performance. Considering current price level, it is 8.65% gain and 3.43% loss to hit resistance at RM0.315 and support at RM0.28 respectively.

Reason to monitor: Price supported above EMA25&50

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