KTI Landmark Bhd (KTI, 0308)

• KTI posted six consecutive bullish candlesticks following a breakout from its 2-week rectangularpattern in the previous session, accompanied by strong trading volume. We anticipate the stock will trend higher if it breaks above its all-time high of RM0.33. In view of the EMAs, the 20-day EMA has crossed above the 50-day EMA, indicating the potential for continuing strength.

• We expect the rising momentum to steer the stock higher and test the next resistance at RM0.33(R1) followed by RM0.36 (R2) in the near term.

• On the downside, stop-loss is set at RM0.27.

Source: Rakuten Research - 24 Oct 2024

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