Technical Review - Kinergy Advancement

Publish date: Tue, 28 Nov 2023, 09:15 PM

Key Updates for Kinergy Advancement Berhad (KAB)

      A detailed examination of the trading volume reveals a clear pattern of accumulation, suggesting increasing investor interest. Should the stock sustain its rally and decisively breach the resistance level at RM 0.365, it would mark a significant transition from Stage 1 to Stage 2 in its uptrend, indicating a more bullish phase.

      The strong financial performance of KAB has not gone unnoticed by its major stakeholders. In a vote of confidence, one of the principal shareholders has undertaken a substantial repurchase of shares, acquiring up to 10 million shares. This move underscores a deep-seated belief in the company's growth potential and strategic direction, further bolstering the positive outlook for the stock.

We remain positive on the upside momentum for KAB.