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Kelington Group Bhd (KGB, 0151)
- Following yesterday’s positive announcement that Kelington has secured a RM40m Ultra High Purity contract, share price closed 3.6% higher at RM1.71 yesterday.
- There is a formation of tweezer bottom signalling potential rebound. KGB rebounded from its MA20 after the positive news, indicating improved investors’ confidence.
- Currently, KGB is trading above all its key moving averages. Backed by uptick in its RSI indicator, KGB is poised to move higher underpinned by investors’ confidence.
- Resistance levels are identified at RM1.88 (R1) and RM2.00 (R2).
- On the flipside, support levels are pegged at RM1.65 (S1) and RM1.47 (S2).
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Source: Rakuten Research - 6 Oct 2021