K-One Technology is prepared to rebound strongly from a recent pullback, as it rebounded strongly and breached the MYR0.165 resistance yesterday, forming a “White Marubozu” bullish candlestick. Backed by improved trading volume, the stock is set to trend upwards towards the immediate resistance of MYR0.19, followed by MYR0.20 (the 52-week high). However, if the stock drops below the MYR0.15 support, the momentum may be reversed and trigger the formation of a "lower low" bearish pattern, below the short-term moving average line.
Source: RHB Securities Research - 7 Apr 2023
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Created by rhbinvest | Apr 25, 2024