• Share price closed 9.7% higher at RM3.51 on Friday.
• KOBAY was breaking out from its downtrend line last Friday. Its share price has also managed to trade above its MA20.
• Coupled with upticks in its indicators and MACD bullish crossover, its share price is expected to move higher.
• Resistance levels are identified at RM3.72 (R1) and RM4.55 (R2).
• On the flipside, support levels are pegged at RM3.21 (S1) and RM2.92 (S2).
Source: Rakuten Research - 23 May 2022
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