• Target Price: RM0.980, RM1.05

• Last closing price: RM0.925

• Potential return: 5.9%, 13.5%

• Support: RM0.890

• Stop Loss: RM0.810

Possible for sideways breakout. KENANGA is potentially staging a breakout from its sideways channel, with anticipation of continuous improvement in both momentum and trend in the near term. Should immediate resistance level of RM0.980 be broken with renewed buying interest, it may continue to lift price higher to subsequent resistance level of RM1.05. However, failure to hold on to support level of RM0.890 may indicate weakness in the share price and hence, a cut-loss signal.

Source: PublicInvest Research - 31 Dec 2024