Kejuruteraan Asastera Bhd (0193)

• KAB surged 17.6% or 6.5 sen to close at RM0.435 yesterday.

• Yesterday’s bullish long white candle pushed the share price to close at an all-time-high on the back of higher trading volume. KAB’s recent pullback to RM0.355 has likely completed its muchneeded consolidation and remains on bullish upcycle at the moment.

• The bullish breakout with strong buying momentum coupled with positive technical indicator signals, share price is likely to continue charting new highs possibly testing the RM0.50 level.

• As such, resistance levels are expected at RM0.48 (R1) and to RM0.55 (R2).

• On the flip side, downside support levels are found at RM0.355 (S1) and RM0.340 (S2).

Source: Rakuten Research - 2 Oct 2019