KNM Group Bhd (7164)

• KNM gained 12.3% or 4.5 sen to RM0.41 yesterday.
• Our technical report dated 17 July 2019 highlighted buying opportunities during its pullback and has been proven correct after consolidating for a week.
• Yesterday’s bullish breakout saw its share price hitting its 52-week high on the back of higherthan-average trading volume with long white candle, we expect follow through buying momentum to propel it to new high.
• As such, resistance levels are identified at RM0.45 (R1) and further to RM0.50 (R2).
• On the contrary, support levels are expected at RM0.32 (S1) and RM0.30 (S2).

Source: Rakuten Research - 25 Jul 2019