Kelington Group is set to trend north as it rebounded strongly from the intraday low yesterday to reclaim the area above the immediate resistance of MYR1.41– firming up its “higher high” bullish structure above the 21-day average line. If the breakout is sustained, the bulls mayt push it further towards the MYR1.50 point (17 Feb’s high), followed by MYR1.59 ie the high of 10 Feb. However, the counter may reverse direction if it falls below the MYR1.34 support, as it is trading below the average line while forming a “lower low” bearish structure.

Source: RHB Securities Research - 15 Sept 2022