Kelington Group Bhd (KGB, 0151)

• Underpinned by continuous acquisition of shares by the major shareholders, share price closed 0.57% higher at RM1.75.

• KGB is trading towards the upper side of flag awaiting for breakout. We also see a MACD golden cross in MACD indicator.

• The share price closed above its MA20 and MA50. Backed by upticks in its indicators and intact uptrend of technology sector.

• Resistance levels are identified at RM1.88 (R1) and RM2.05 (R2).

• On the flipside, support levels are pegged at RM1.65 (S1) and RM1.47 (S2).

Source: Rakuten Research - 17 Nov 2021