Kelington Group Bhd (0151)

• KGB rose 2.3% or 5 sen to RM2.15 yesterday.

• Share price hit high of RM2.37 on 22 Jan 2021 and saw a healthy retracement to current level. With share price trading above key upward sloping moving average lines, we believe the positive upward trend remains intact hence presenting buying opportunity at current level.

• As such, resistance levels are expected at RM2.37 (R1) and further to RM2.50 (R2).

• Conversely, support levels are seen at RM1.85 (S1) and RM1.70 (S2).

Source: Rakuten Research - 27 Jan 2021