Kelington Group Bhd (0151)

• KGB closed 3.9% or 5 sen higher to close at RM1.33 yesterday.
• Technically, KGB has hit its all-time-high of RM1.35 recently and continues to close above all key moving averages displaying bullish outlook for the stock.
• Following the recent contract secured worth RM53m, we expect the rally to persist thereby potentially pushing the price to trend higher.
• From here, resistance levels are identified at RM1.34 (R1) and further to RM1.35 (R2).
• Conversely, support levels are expected at RM1.27 (S1) and RM1.24 (S2).

Source: Rakuten Research - 17 Apr 2019