Kronologi Asia is eyeing to extend its upside after staging a breakout. Observe that the stock broke past the MYR0.55 resistance on high volume and crossed above the 21-day SMA line. This indicates the positive momentum is turning stronger again. The stock should continue to ascend towards the next reistsance pegged at MYR0.60, followed by MYR0.63. Towards the downside, in the event it breaches the MYR0.52 support, this would confirm the correction phase has started.

Source: RHB Securities Research - 12 Jun 2023