• KPJ closed unchanged at RM0.955 yesterday.
• Share price has bottomed out at RM0.88 in Oct 2019 and has since rebounded. Recently it spiked up to a high of RM1.04 on the back of the coronavirus fears. Recent pullback to RM0.955 is a good entry point and we expect it to test RM1.06 level.
• As such, resistance levels are expected at RM1.06 (R1) and RM1.16 (R2).
• On the flip side, downside support levels are expected at RM0.92 (S1) and RM0.87 (S2).
Source: Rakuten Research - 5 Feb 2020
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Created by rakutentrade | Aug 23, 2024