Nov 14, 2016

KAREX: Trendline Breakout

KAREX has rebounded off the RM3.29 level and staged a trendline breakout with high volumes. The MACD Line has given a BUY signal. The RSI has crossed above 50. Price might head towards the RRM2.64 to RM2.74 levels. Support will be pegged around the RM2.39 level.

KAREX Daily Chart:karex technical analysis

source: Malacca Securities Research – 14/11/16

The Group is principally involved in the manufacturing and sale of condoms sterile catheters latex probe covers latex sleeves and rubber product. It is the world's largest original equipment manufacturer (OEM) condom maker in terms of capacity with an annual capacity of 3 billion pieces.