Kelington Group (KGB | 0151)
Last Price: RM3.59 | Technical Call: BUY
Support 1: RM3.50 | Resistance 1: RM4.00 |
Support 2: RM3.30 | Resistance 2: RM4.20 |
Shariah Compliant: Yes | Sector: Industrial |
Kelington Group broke out of its 1-month bullish triangle pattern two sessions ago, suggesting that its prior uptrend has likely resumed. With the 20-day EMA remaining above the 50-day EMA since the bullish crossover in mid-November, the uptrend appears poised to continue in the near term. A bullish bias may emerge above the RM3.50 level with stop-loss set at RM3.28, below the 50-day EMA. Towards the upside, near-term resistance level is seen at RM4.00, followed by RM4.20.
Entry: RM3.50-3.59
Target: RM4.00, RM4.20
Exit: RM3.28
Source: AmInvest Research - 18 Dec 2024
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