KPower Bhd (KPOWER, 7130)

• KPOWER closed 4.2% or 9 sen higher to RM2.22 last Friday.

• Following the retracement from the high of RM2.91 in January, share price has rebounded from recent low of RM1.76 and is recovering on a gradual basis. This signifies renewed buying interest on the back of improving volume. With RSI pointing upwards, share price is expected to move higher.

• From here, resistance levels are identified at RM2.45 (R1) and RM2.91 (R2).

• On the downside, support levels are pegged at RM2.00 (S1) and RM1.90 (S2).

Source: Rakuten Research - 15 Mar 2021