Kia Lim is consolidating sideways while eyeing to stage a bullish breakout. The counter has been moving sideways below the MYR0.805 resistance while the 21-day SMA line moves upwards – this shows the short-term trend remains bullish. In the event a breakout happens, the stock will climb towards the next resistance at MYR0.88, followed by the MYR0.95 level. On the downside, breaching below the MYR0.70 support sets off the correction phase.

Source: RHB Securities Research - 25 Mar 2024