Rakuten Trade Research Reports

Technical View - Kelington Group Bhd

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Publish date: Tue, 22 Nov 2022, 09:13 AM
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Kelington Group Bhd (KGB, 0151)

• Share price closed 1.53% higher at RM1.32 on Monday.

• KGB is pending breakout from its flag formation. It has been trading near all its key moving average lines recently with decent trading interest. In view of the tremendously y-o-y increase in the 9MFY22 result announced coupled with bullish indicators, share price is expected to trend higher.

• Resistance levels are identified at RM1.38 (R1) and RM1.44 (R2).

• On the flipside, support levels are pegged at RM1.27 (S1) and RM1.21 (S2).

Source: Rakuten Research - 22 Nov 2022

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