KEINHIN

Sector: Industrial Products & Services

Analysed on 09/01/2022

After hitting the historical high at RM1.36, KEINHIN has gone through price consolidation between RM0.75 and RM1.245. KEINHIN attempted to break its resistance at RM 1.245 but failed to stay above its resistance. KEINHIN is traded at RM 1.12 on last Friday with immediate resistance and support at RM1.13 and RM1.03 respectively. Both EMA 25 and 50 are trending upward which provides an indication that KEINHIN is on uptrend. Short term investors shall exercise caution if the immediate support is broken. KEINHIN may potentially challenge its next resistance at RM 1.245 once it manages to break its immediate resistance at RM 1.13.

Reason to monitor: Potential resistance breakout

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