The share had been on a bullish run over the past three trading days, backed by stronger than average trading volume.
Overall technical outlook is positive with the MACD line having just crossed above the Signal Line and the share is currently leading key SMAs upward.
Expect the bullish run to continue leading the share towards RM0.390 (R1) and even RM0.420 (R2).
If the bullish momentum tapers off, downside support levels can be identified at RM0.315 (S1) and RM0.270 (S2).
BKOON (Not Rated)
BKOON gained 2.0 sen (4.35%) to close at RM0.480.
The share price has been consolidating sideways since mid- January within the range of RM0.402-RM0.470.
Yesterday’s close marked a breakout from RM0.470 level after consecutive multiple retests in the days prior.
With MACD showing improvement, expect BKOON to further trend towards psychological resistance level RM0.500 (R1).
Technical outlook will turn positive once RM0.500 (R1) resistance level is taken out decisively and expects further possible advancement towards RM0.580 (R2) next.
Conversely, a break below RM0.400 (S1) is deemed highly negative and expects lower support at RM0.345 (S2).
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