Technical Buy: KENANGA (6483)

• Target Price: RM0.600, RM0.630
• Last closing price: RM0.550
• Potential return: 9.0%, 14.5%
• Support: RM0.530
• Stop Loss: RM0.500

Possible for bottom fishing. KENANGA is showing early signs of potential bullish reversal from its prior downtrend. Improving RSI and MACD indicators currently signal reasonable entry level, with anticipation of continuous improvement in both momentum and trend in near term. Should resistance level of RM0.580 be broken, it may continue to lift price higher to subsequent resistance levels of RM0.600 and RM0.630.
However, failure to hold on to support level of RM0.530 may indicate weakness in the share price and hence, a cut-loss signal.

Source: PublicInvest Research - 24 Apr 2019

https://klse.i3investor.com/blogs/PublicInvest/203722.jsp