Karex is eyeing a fresh leg on the upside after it underwent a bullish breakout. The stock has climbed above the MYR0.78 resistance on strong volume, showing that the consolidation phase is now completed. We observe the volume has been increasing in tandem with share price, showing momentum is gaining speed now. The stock should scale towards MYR0.84, then MYR0.90. If it falls below the support of MYR0.72, this would spark the beginning of a correction.

Source: RHB Securities Research - 29 Jan 2024