Kelington Group Bhd (KGB, 0151)

• Share price closed 4.2% higher at RM1.25 on Friday.

• We believe KGB has found its lowest point at RM1.09 and has been trending up recently with higher trading volume. It has also broken out from its downtrend and manages to trade above its MA 20 line.

• Coupled with upticks in its indicators & MACD bullish signal, share price is expected to continue with its upside momentum.

• Resistance levels are identified at RM1.30 (R1) and RM1.36 (R2).

• On the flipside, support levels are pegged at RM1.20 (S1) and RM1.09 (S2).

Source: Rakuten Research - 7 Jun 2022