Kobay Technology’s buying momentum may have returned after it rose above the 21-day SMA line. This can be viewed as a continuation of the bulls extending the rebound from 11 Oct’s “Hammer” pattern. A bullish bias may appear above the MYR1.50 level, with an exit set below the MYR1.31 threshold. Towards the upside, the near-term resistance is at MYR1.68. This is followed by the MYR1.80 level.

Source: RHB Securities Research - 18 Oct 2018