KUALA LUMPUR: CIMB Research said Kinsteel is poised for a stronger rebound following the breakout in its share price last Friday, April 8.
The research house said on Monday, April 11 if prices can hold steady above the RM0.89 resistance-turned-support channel, prices should re-rate towards 94.5 and RM1.02 next, the Jan 11 high.
'MACD has returned to the black while RSI has also hooked upward. We are also encouraged by the fact that the candles have swung above all its key moving averages,' it said.
CIMB Research said investors with higher risk appetite may start to nibble now. However, always place a stop at below 86.5 sen.
The research house said on Monday, April 11 if prices can hold steady above the RM0.89 resistance-turned-support channel, prices should re-rate towards 94.5 and RM1.02 next, the Jan 11 high.
'MACD has returned to the black while RSI has also hooked upward. We are also encouraged by the fact that the candles have swung above all its key moving averages,' it said.
CIMB Research said investors with higher risk appetite may start to nibble now. However, always place a stop at below 86.5 sen.
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