KNM Group Bhd (7164)

• KNM advanced 10.7% or 1.5 sen to RM0.155 yesterday.

• Recent price action move suggested renew buying interest on the stock supported by positive signals from key momentum indicator RSI which has bounced off from the oversold levels.

• Stock is likely to have bottomed out at current levels from recent high of RM0.26 and should the buying momentum persist, we expect share price to head towards the RM0.20 level.

• From here, resistance levels are set at RM0.18 (R1) and RM0.23 (R2) level.

• On the downside, support levels are found at RM0.14 (S1) and RM0.10 (S2).

Source: Rakuten Research - 4 Nov 2020