KGB gained 2 sen (+2.33%) to close at RM0.880 yesterday.
The share had been rallying since the start of August and had been looking to break out from the RM0.900 resistance level.
Key SMAs are now in a ‘Golden Cross’ position with other momentum indicators showing meaningful upticks.
Should it be able to break above RM0.900 (R1), we may consider calling a trading buy as the next resistance level is identified at RM0.970 (R2).
Any downside bias will see supports at RM0.830 (S1) and RM0.785 (S2).
DNEX (Not Rated)
DNEX gained 2.0 sen (+5.26%) to close higher at RM0.400 underpinned by stronger-than average trading volume.
The share has been trending sideways within the range of RM0.370-RM0.425 since mid-May.
Technical outlook seemingly in supportive for a short-term retracement as supported by weaknesses in momentum indicators as displayed by the MACD line below zero with recent crossover of RSI just above the 50-point level.
From here, the RM0.380 (S1) is a crucial support level to look out where a decisive break-through would see the share on a lower note towards RM0.340 (S2).
Conversely, resistance levels are identified at RM0.410 (R1) and RM0.425 (R2).
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