KGW is poised to extend its upside movement after climbing above the resistance level with strong volume. The counter has breached the MYR0.255 resistance to form a fresh “higher high” bullish candlestick. Volume is rising in tandem with the share price, suggesting that strong bullish momentum is underway. Based on the momentum, the counter is setting its sights on the next resistance at MYR0.30, followed by MYR0.34. However, a fall below the MYR0.215 support would negate the bullish setup.
 

Source: RHB Securities Research - 1 Jul 2024