Kelington Group Bhd (0151)

• KGB gained 5.5% or 7 sen to close at RM1.35 yesterday.
• Share price saw bullish breakout on the surge in trading volume yesterday following a long
• consolidation phase since Nov 2019.
• Chart-wise, this signal the start of new uptrend cycle that will see it retest its 52-week high of
• RM1.43 and potentially continue to break new high.
• As such, resistance levels are expected at RM1.40 (R1) and further to RM1.43 (R2).
• Conversely, downside support levels can be expected at RM1.22 (S1) and RM1.16 (S2).

Source: Rakuten Research - 16 Jan 2020