Kossan Rubber Industries has broken away from the consolidation zone and resumed its uptrend. The stock has been moving sideways below the MYR1.42 resistance since July. After the breakout, the bullish momentum should propel the stock towards the next resistance pegged at MYR1.58, followed by MYR1.70. On the other hand, falling below the MYR1.30 support will kick off the correction phase again.
Source: RHB Securities Research - 10 Nov 2023
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Created by rhbinvest | Aug 23, 2024