Rakuten Trade Research Reports
Technical View - KAREX Bhd (KAREX, 5247)
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Publish date: Fri, 27 Dec 2019, 10:03 AM
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Hotline: +603 2110 7110 (Account Opening, General enquiry)
Email: customerservice@rakutentrade.my
Karex Bhd (5247)
• KAREX closed 8.4% or 4.5 sen higher to RM0.58 on Tuesday.
• Chart-wise, share price seems to have broken out of its downtrend channel level at RM0.405 back in October and has since staged a recovery to current level. It is likely to head towards RM0.60 level before taking a breather.
• As such, resistance levels are expected at RM0.580 (R1) and further to RM0.625 (R2).
• On the flipside, downside support levels can be seen at RM0.530 (S1) and RM0.505 (S2)
Source: Rakuten Research - 27 Dec 2019
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