Kobay Technology is poised for a technical breakout after rebounding off the 21-day SMA line and closing at the immediate resistance of MYR2.26. If a breakout happens above that mark, the counter will trend higher towards the 52-week high of MYR2.58, followed by MYR3 level. On the flip side, falling below the MYR1.94 support negates the bullish setup, as it would then be trading below the SMA line.
Source: RHB Securities Research - 31 May 2024
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