Kulim’s rally may resume after staying above the short-term support level of RM5.12. A purchase can be made on a close above last Friday’s “Hammer” high of RM5.22 with a close below RM5.12 as a stop-loss. The price target is RM6.00 and selling is also expected at RM5.60, provided that the recent high of RM5.45 is violated. However, a close below RM5.12 could see the stock correcting and supports are at RM4.80 and RM4.65.
Source: OSK
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