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Technical Stock Pick - KSL Holdings Bhd

jfapex
Publish date: Mon, 23 Nov 2020, 08:58 AM
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JF Apex Research
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Technical Stock Pick -KSL Holdings Bhd
 

 

Closed:                    63 sen

Resistance:              (R1) 69 sen /(R2) 75 sen

Support:                  (S1) 57 sen /(S2) 54 sen

 

 

KSL Holdings Bhd (5038) rose 10 sen to 63 sen on Friday to breach the 100- (pink line) and 200-day (orange line) moving averages with sudden spike in trading volume.

 

Technical indicators are encouraging with the MACD rising above its signal line and the RSI has just entered the overbought zone.

After Friday’s surge, the stock could pull back on profit taking but has a chance to extend its rebound if share price sustains above its immediate support of 57 sen marked the 200-day moving average (orange line).

For the downside, we advise traders to cut loss if the price falls below the second support of 54 sen, marked by the 100-day moving average (pink line).
 
 

 

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