KOBAY

Sector: Industrial Products & Services

Analyzed on 19/12/2021

Follow up from our previous analysis, KOBAY has surged to RM6.5 (all time high) in early December and retraced 12% to close at RM5.76 this week. The retracement is still acceptable given that it is still above EMA50. AT RM5.67, we should see a stronger support given that it was the previous swing high level and coincide with EMA50 level. Uptrend is still intact in the medium term.

Reason to monitor: Approaching uptrend support level.

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