• Kronologi Asia Berhad is engaged in provision of enterprise data management (EDM) solutions. Its services comprise of backup, storage, recovery and restoration of enterprise data as well as periodic health checks, capacity planning, remote monitoring and disaster recovery service.
• Technically, we are of the view that Krono’s share price is likely to gain stronger momentum at an accelerating velocity as daily chart show that Bollinger band is widening and reading from daily and weekly MACD, RSI and Slow Stochastics is pointing to upside tendency.
• Moreover, share price has penetrated above the Ichimoku Cloud on daily chart. Hence, we are looking at target prices of RM0.20 (100-d SMA), RM0.22 and RM0.24. Supports are pegged at RM0.185 and RM0.18, with cut loss below RM0.175.

Source: Hong Leong Investment Bank Research - 16 Oct 2015