Sector: Technology

Analysed on 17/10/21

KRONO attempted to breakout from the descending trendline as shown in the chart this week. KRONO is currently trading at RM0.640, which is right on the descending trendline. Should KRONO continue to stay above the descending trendline, it will challenge the resistance at RM0665.

There is no clear indication that KRONO is on the uptrend at the moment as golden cross has not happened yet. However, there is formation of high lows pattern recently indicating that there is a potential of reversal for KRONO. We are in opinion that currently the risk is low for KRONO because it has been well supported at the region around RM0.605 since early of May. As there is sign of momentum begin to kick in, coupled with its good QR reported last month, we believe that KRONO could begin its uptrend in the near future. 

Reason to Monitor: Potential Beginning of Uptrend

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NOTT INVEST 

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