RHB Retail Research
Technical Analysis - Kossan Rubber Industries
Kossan Rubber Industries may rebound further after it tested the MYR4.00 support recently. Last Friday’s white candle can be viewed as the bulls extending the rebound from 11 Oct’s “Hammer” pattern. A bullish bias may emerge above the MYR4.00 level, with an exit set below the MYR4.00 threshold. Towards the upside, the immediate resistance is at MYR4.40. This is followed by the MYR4.60 level.
Source: RHB Securities Research - 29 Oct 2018
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