- Target Price RM0.490
- Last closing price RM0.450
- Potential return 8.8%
- Support RM0.435
- Stop Loss RM0.415
Possible for bottom fishing.
KAREX is staging a potential recovery from its consolidation phase.
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 RM0.460 be broken, it may
continue to lift price higher to subsequent resistance level of
RM0.490. However, failure to hold on to support level of RM0.435 may
indicate weakness in the share price and hence, a cut-loss signal.
