KSL up 1.38% on positive technicals

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KUALA LUMPUR (Jan 11): Shares in KSL Holdings Bhd rose 1.38% this morning following a positive technical outlook on the stock.

At 9.39am, KSL rose 1 sen to 73.5 sen with 99,200 shares done.

PublicInvest Research said KSL is showing signs of recovery from its consolidation phase.

In a trading ideas note today, the research house said improving relative strength index and moving average convergence divergence indicators currently signal reasonable entry level, with anticipation of continuous improvement in both momentum and trend in the near term to lift KSL's share price higher to subsequent resistance level of 79.5 sen.

"However, failure to hold on to support level of 70 sen may indicate weakness in the share price and hence, a cut-loss signal," it said.