KSL’s share price went up by 5 sen (+1.22%) yesterday and closed above the 50-day SMA line at RM4.15. Chart-wise, the share price was retreating for the past two weeks due to the weak market sentiment but had rebounded from the strong support level of RM3.73, supported by positive readings from key indicators (RSI, Stochastic and MACD), suggesting the buying interest is picking up. We reckon that the share price could possibly retest the immediate resistance level of RM4.33 (R1) and RM4.70 (R2) next.

 

 

Source: Kenanga