Rakuten Trade Research Reports

Technical View - KPower Bhd

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Publish date: Mon, 12 Apr 2021, 10:04 AM
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KPower Bhd (KPOWER, 7130)

• KPOWER rose 7.8% or 15 sen to RM2.07 last Friday.

• KPOWER formed a bullish breakout after undergoing a period of consolidation, implying the reemergence of buying interest. The breakout was accompanied with higher volume and a positive signal from MACD, and hence the upward force is likely to be extended.

• As such, resistance levels are at RM2.31 (R1) and further to RM2.45 (R2).

• For downside support, support levels are seen at RM1.86 (S1) and RM1.75 (S2).

Source: Rakuten Research - 12 Apr 2021

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