KELINGTON GROUP BERHAD (KGB)

Sector: Industrial Products & Services (Industrial Engineering)

Analysed on 14/11/2021

After hit the historical high at RM1.88, KGB is now having rest mode. KGB is traded at RM 1.69 on last Friday with immediate resistance and support at RM1.88 and RM1.66 respectively. Pricing is consolidating in rectangle pattern. Support at RM1.66 is tested twice and rebounded. There is no sign of retracement yet as EMA25 is still staying above EMA50. Investors shall exercise caution if the immediate support is broken. Considering current price level, it is 11.2% gain and 1.8% loss to hit resistance at RM1.88 and support at RM1.66 respectively.

Reason to monitor: Price Consolidation

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