Although prices pared early gains, we think K-Star is poised for stronger rebounds. The triangle breakout suggests that momentum is slowly building
up. For risk takers, you might want to take some position here to ride the next upswing. The following resistance levels are RM0.335 and RM0.35.
MACD signal line has staged a positive crossover while RSI is also rising. The short term reading reinforces our bullish stance on the stock.
Any pullback is an opportunity to accumulate. However, always place a stop at below RM0.30 to limit downside exposure.
K-Star Sports Ltd. is an investment holding company. The company, through its subsidiary, designs, manufactures, and distributes sports footwear for running, tennis, basketball, and mountain climbing, as well as leisure footwear.
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