Kerjaya Prospek Group Bhd (KERJAYA, 7161)

• Share price closed 1.55% higher at RM1.31 on Wednesday.

• KERJAYA has been on an uptrend since hitting its 52-week low of RM1.05 in Jun-23. It broke out of itsresistance level of RM1.30 to touch its 52-week high of RM1.32 yesterday, with buying volume quite apparent throughout the week. Fundamentally, KERJAYA has been awarded a RM125m high-rise building job in Aug-23 and its outstanding order book stood at RM4.5bn YTD to provide strong earnings visibility. It is currently trending above all of its MA lines hence share price is expected to move higher.

• Resistance level is identified at RM1.31 (R1).

• On the flipside, support levels are pegged at RM1.25 (S1) and RM1.19 (S2).

Source: Rakuten Research - 5 Oct 2023

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