RHB Retail Research
Trading Stocks - Kobay Technology
Kobay Technology is in the process of rebounding higher, as it managed to stay above the immediate resistance-turned-support of MYR5.28 – retracing on tapering volume yesterday. Bullish momentum above that level may propel the stock towards the nearest resistance of MYR5.57, before reaching the all-time high of MYR5.74. However, falling below the MYR5.12 support – below the 21-day average line – may reverse the momentum.
Source: RHB Securities Research - 12 Oct 2021
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