Rakuten Trade Research Reports

Technical View - Kejuruteraan Asastera Bhd (KAB, 0193)

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Publish date: Thu, 19 Dec 2019, 08:40 AM
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Kejuruteraan Asastera Bhd (0193)

• KAB rose 7.3% or 5 sen to RM0.735 yesterday.

• Chart-wise, overall uptrend channel remains intact as share price continues its rise to new high of RM0.75 level yesterday. Share price went through consolidation phase before resuming its bullish breakout. Buoyed by renewed buying interest, it is likely to head towards the RM0.80 level.

• As such, should it break RM0.75 (R1), next resistance level is identified at RM0.90 (R2).

• Conversely, support levels can be seen at RM0.65 (S1) and RM0.61 (S2).

Source: Rakuten Research - 19 Dec 2019

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