• KSL closed at RM0.615 last Friday.
• Share price is on a steady uptrend since end Mar this year indicating continuous buying interest on the stock. Riding on the upward trendline with encouraging signs from technical indicators, share price is set to challenge the first resistance level of RM0.69 (R1).
• A convincing breakout from R1 is confirmed should share price cross above 100-day simple moving average line, share price could then head towards next resistance level at RM0.780 (R2).
• On the downside, support levels are identified at RM0.560 (S1) and RM0.500 (S2).
Source: Rakuten Research - 18 May 2020
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Created by rakutentrade | Aug 23, 2024