• KAB closed 8.3% or 7 sen higher to RM0.91 yesterday.
• Chart-wise, share price remains on a long-term uptrend cycle and yesterday’s bullish breakout saw it closed at a 52-week high on the back of higher volume. Based on strong buying momentum share price is likely to continue breaking new high heading towards the RM1.00 level.
• As such, resistance levels are expected at RM1.00 (R1) and further to RM1.20 (R2).
• On the flipside, downside support levels can be seen at RM0.70 (S1) and RM0.65 (S2).
Source: Rakuten Research - 31 Dec 2019
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Created by rakutentrade | Nov 11, 2024