Rakuten Trade Research Reports

Technical View - Kumpulan Powernet Bhd KPOWER (7130)

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Publish date: Thu, 05 Sep 2019, 06:34 PM
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Kumpulan Powernet Bhd (7130)

  • KPOWER surged 13.6% or 11 sen to RM0.92 yesterday.
  • KPOWER closed with a long bullish white candle coupled with higher-than-average trading volume yesterday. With the recent entry of new shareholder and management team, this could be turning point for the loss-making company. Key momentum indicators flashing an upward bias and MACD is also displaying positive state and may see it re-test new high.
  • From here, resistance levels are expected at RM0.94 (R1) and further to RM0.96 (R2).
  • On the flip slide, support levels are found at RM0.78 (S1) and RM0.745 (S2).

Source: Rakuten Research - 5 Sept 2019

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