Possible further upside for Key Alliance Group, says Public IB Research

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KUALA LUMPUR (Dec 14): Public Investment Bank Bhd Research said that without making new low, Key Alliance Group Bhd’s share price is recovering from congestion phase.

In a technicals note today, the research house said improving relative strength index and MACD indicators signal reasonable entry level, with anticipation of continuous improvement in both momentum and trend in the near term.

“Should 21 sen resistance level be broken, it may continue to lift price higher to the next resistance levels of 23 sen and 24 sen.

“However, failure to hold on to support level of 19 sen may indicate weakness in the share price and hence, a cut-loss signal,” it said.