KKB Engineering Bhd (9466)

• KKB closed unchanged at RM1.43 yesterday.
• Technically, share price hit its 52-week high at RM1.50 level recently and is trading above all key moving averages, signalling a strong buying momentum. Following the announcement of positive financial results, we expect the uptrend to continue, pushing share price to higher level.
• From here, should it break RM1.50 (R1) level, we expect next resistance level at RM1.60 (R2).
• Conversely, support levels are identified at RM1.34 (S1) and RM1.29 (S2).

Source: Rakuten Research - 16 Aug 2019