RHB Investment Research Reports

Trading Stocks - Kossan Rubber Industries

rhbinvest
Publish date: Fri, 15 Dec 2023, 02:19 PM
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Kossan Rubber Industries is poised for an upward surge following a technical breakout above the MYR1.77 resistance yesterday, as evidenced by a "Bullish Marubozu" candlestick. Supported by a significant increase in trading volume, the bullish momentum is expected to propel the stock towards the MYR2 mark, with the next resistance at MYR2.22. Conversely, a decline below the MYR1.60 support would indicate a potential downtrend.

Source: RHB Securities Research - 15 Dec 2023

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