Kronologi Asia is poised to extend its uptrend, as it tested the immediate resistance on high trading volume last week. The stock underwent a consolidation recently and charted a rebound with a bullish candlestick – indicating that the bullish setup is firmly intact. If it breaks past the MYR0.54 resistance, the bullish momentum should propel the stock towards the next resistance of MYR0.57, followed by MYR0.60. Towards the downside, falling below the MYR0.50 support would negate the bullish setup.

Source: RHB Securities Research - 13 Feb 2023