Kossan eyeing strong rebound, says RHB Retail Research

Kossan eyeing strong rebound, says RHB Retail Research
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KUALA LUMPUR (August 2): RHB Retail Research said Kossan Rubber Industries Bhd is eyeing a strong rebound, after it bounced off the immediate support on higher trading volume last Friday – forming a “higher low” uptrend structure.

In a trading stocks note today, the research house said if the stock manages to surpass the immediate resistance of RM3.50, the positive momentum will accelerate to lift the stock towards the next hurdle of RM3.82, before reaching the psychological level of RM4.00.

“Meanwhile, if it falls below the RM3.32 support, this momentum will fade,” it said.