K-One Technology is set to resume its uptrend as it bounced off the 21-day average line and also its MYR0.15 previous breakout level yesterday – forming a “higher low” bullish pattern above the average line. The bullish bias above the breakout level is likely to propel the stock higher towards the MYR0.18 recent high, followed by the MYR0.20 mark. However, the counter may reverse downwards if it drops below the MYR0.13 support, as it forms a “lower low” bearish pattern below the average line.
Source: RHB Securities Research - 21 Feb 2023
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