KNM attracted investors' attention as market understands that as one of the largest process equipment manufacturers, it should be one of the key beneficiaries of the RAPID project. Yesterday, KNM advanced another 3.5 sen and closed at RM0.94. Technically speaking, KNM has broken out from the technical resistance at RM0.935. Coupled with positive reading from key momentum indicators and the high trading volume, probability suggests that KNM is ready for further upside move. Should buying momentum persists, we believe that KNM could rally towards its next resistance level of RM1.00 (R1) and possibly RM1.06 (R2) next.

 

Source: Kenanga