Kumpulan Perangsang Selangor Bhd (KPS, 5843)

• KPS ended 1.9% or 2 sen higher to RM1.09 yesterday.

• Recent pull back from the high of RM1.16 could provide entry opportunity as key technical indicators are displaying signs of renewed buying interest. As share price is trading above key short-term moving average lines, the buying momentum is likely to be extended.

• As such, resistance levels are expected at RM1.16 (R1) and further to RM1.25 (R2).

• Conversely, support levels are projected at RM1.03 (S1) and RM0.95 (S2).

Source: Rakuten Research - 16 Apr 2021