Karex Bhd (KAREX, 5247)

• Share price closed 0.88% higher at RM0.575 on Tuesday.

• KAREX retraced after hitting its 52 weeks high of RM0.86 in early March. It has since been on aconsolidation mode with some accumulation seen over the past three months. With some indicators are showing bullish signals, share price is expected to move higher.

• Resistance levels are identified at RM0.585 (R1) and RM0.60 (R2).

• On the flipside, support levels are pegged at RM0.545 (S1) and RM0.52 (S2).

Source: Rakuten Research - 20 Jul 2023

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