Karex is eyeing to breakout from the consolidation zone as trading volume is starting to pick up. The stock has been moving sideways below the MYR0.90 resistance. We have observed the trading volume increasing, showing the bullish momentum is increasing pace again. If the breakout happens, the counter may set its sights on testing the next resistance at MYR0.96, followed by the MYR1.05 level. On the downside, breaching the MYR0.78 support kicks off the correction phase.
 

Source: RHB Securities Research - 4 Jul 2024