Karex Bhd (5247)

• KAREX gained 2.7% or 1.5 sen to close at RM0.565 yesterday.
• Technically, share price has broken above the key 200-day simple moving average line signalling positive momentum on the buying interest. Besides, the upward movement of key momentum indicators and bullish position of MACD above signal line also indicating further upside potential.
• As such, resistance level can be seen at RM0.635 (R1) and further to RM0.700 (R2)
• Likewise, support levels are found at RM0.520 (S1) and RM0.425 (S2).

Source: Rakuten Research - 20 Jun 2019