KNM Group Bhd (7164)

• KNM gained 6.9% or 2.5 sen to RM0.385 yesterday.
• KNM formed a bullish long white candle, marking a strong rebound yesterday from an intra-day low of RM0.325. We believe the rebound is at its initial stage and expect more buying interest ahead, potentially propping the price higher.
• As such, resistance levels are found at RM0.405 (R1) and possibly heading towards RM0.44 (R2).
• On the flipside, support levels are expected at RM0.350 (S1) and RM0.300 (S2).

Source: Rakuten Research - 7 Aug 2019