Kejuruteraan Asastera Bhd (0193)

• KAB rose 0.5 sen or 1.27% to RM0.40 yesterday.
• Share price has been uptrend with continued breakout of many resistance levels on the back of higher-than-average trading volume for some time.
• With recent positive news on contract wins, coupled with the bullish MACD, we believe the buying momentum is likely to continue to challenge new high.
• From here, should it break immediate key resistance level at RM0.405 (R1), next resistance level is expected at RM0.450 (R2).
• On the contrary, support levels are identified at RM0.375 (S1) and RM0.350 (S2).

Source: Rakuten Research - 20 Sept 2019