Yesterday, KSL advanced 5 sen to settle at RM2.13, and it is now inching closer to the triangle apex. The share price is now retesting a crucial triangle overhead resistance level at RM2.15 region where a successful breakout would confirm a “Bullish Pennant” formation. This potentially signals a continuation of the uptrend, with an impressive potential 75-sen upside (to RM2.88) against a 25-sen downside (strong downside support at RM1.88). Hence, we reckon that traders should keep a keen eye on the stock, and watch for a breakout.

 

Source: Kenanga