Rakuten Trade Research Reports

Technical View- Kanger International Bhd

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Publish date: Tue, 01 Dec 2020, 11:53 AM
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Kanger International Bhd (0170)

• KANGER dropped 2.7% or 0.5 sen to RM0.18 yesterday.

• Chart-wise, share price has been in consolidation mode for some time with trading volume improving of late showing signs of stealth buying pattern. News of the company signing collaboration agreement Sinopharm to distribute Covid-19 vaccine and has received support from Ministry of Science, Technology and Innovation is likely to spur buying interest as one of the potential vaccine-play stocks.

• From here, resistance levels are expected at RM0.195 (R1) and RM0.230 (R2) level.

• On the downside, support levels are set at RM0.160 (S1) and RM0.120 (S2).

Source: Rakuten Research - 1 Dec 2020

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