Kelington Group Bhd (KGB, 0151)

• KGB ended 2.5% or 5 sen higher to RM2.04 yesterday.

• Chart wise, share price is testing its support at RM2.04 level after a short period of consolidation. Recent price action showed signs of improving buying momentum as suggested by the upticks in key indicator RSI.

• Should share price able to remain above RM2.00 and break above RM2.04, we expect the buying force to persist, driving share price to higher level.

• From here, resistance levels are expected at RM2.20 (R1) and further to RM2.40 (R2).

• On the downside, support levels are identified at RM1.92 (S1) and RM1.79 (S2).

Source: Rakuten Research - 30 Mar 2021