Kimlun Corporation was in the midst of a sideways consolidation with a positive price action, while it was heading towards the MYR0.865 immediate resistance yesterday. If a breakout above that level occurs, the stock may trend upwards towards the MYR0.89 resistance, followed by the next resistance level of MYR0.92, ie the highest point since 17 Nov 2021. On the flip side, falling below the MYR0.815 would trigger a bearish phase.
Source: RHB Securities Research - 12 Mar 2024
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