Karex active, up 2.68% on positive technicals

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KUALA LUMPUR (Feb 22): Karex Bhd shares rose 2.68% in active trade at mid-morning today, following a positive technical outlook on the stock.

At 10.03am, Karex rose 3 sen to RM1.15 with 1.81 million shares traded.

RHB Retail Research said Karex may rebound higher after it continued holding above the RM1.03 support.

In a trading stocks note today, the research house said yesterday's white candle sent the stock to its two-week high, thereby enhancing the bullish sentiment.

"A bullish bias may appear above the RM1.10 level, with an exit set below the RM1.03 threshold.

"Towards the upside, the near-term resistance level is at RM1.20. This is followed by the RM1.35 level," it said.