Kelington Group is eyeing to extend its upside movement after breaking past the resistance on high volume.
RHB Retail Research (RHB) in a note today said that they have observed the stock managing to cross above the 21-day SMA line and closing above the MYR3.10 resistance with a bullish candlestick.
The latest price action signals that the underlying momentum is bullish.
The positive momentum should lift the counter towards the next resistance at MYR3.30, followed by a higher one at MYR3.50.
On the other hand, falling below the MYR2.90 support resumes the correction phase.
MNRB is poised to stay on a bullish trajectory after climbing above the resistance level with strong volume.
It has climbed above the MYR2.35 resistance and reaffirmed that the bullish technical setup is in play.
Meanwhile, the trading volume has been increasing in tandem with the share price, showing a strong bullish momentum is underway.
Riding on the momentum, the counter is eyeing to test the MYR2.55 level, followed by the MYR2.70 mark.
On the flipside, breaching the MYR2.20 support level negates the bullish setup.
