It has breached the MYR0.255 resistance to form a fresh “higher high” bullish candlestick. TP 1: MYR0.30, followed by TP 2 MYR0.34 for short-term trading
Rhb buycall. Volume is rising in tandem with the share price, suggesting that strong bullish momentum is underway. Based on the momentum, the counter is setting its sights on the next resistance at MYR0.30, followed by MYR0.34. However, a fall below the MYR0.215 support would negate the bullish setup.
Given that freight rates have been increasing since the first quarter of 2024, rising from USD 4-5k to the current USD 10k, KGW is expected to report strong sequential earnings in the second and third quarters of FY 2024
Surveys show that Malaysia-US shipping prices have exceeded the $10,000 mark, and a new round of price increases will take effect on July 15, compared to the peak season of $20,000 before the epidemic
KGW is poised to extend its upside movement after climbing above the resistance level with strong volume. The counter has breached the MYR0.255 resistance to form a fresh “higher high” bullish candlestick. Volume is rising in tandem with the share price, suggesting that strong bullish momentum is underway. Based on the momentum, the counter is setting its sights on the next resistance at MYR0.30, followed by MYR0.34. However, a fall below the MYR0.215 support would negate the bullish setup.
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
tarkus2048
46 posts
Posted by tarkus2048 > 2024-06-26 15:37 | Report Abuse
bouncing back off support & ez rebound.. another normal day here