Feb 18, 2016

Karex May Rebound Further

KAREX Stock Code : 5247

Karex share chart analysis
Karex may rebound further after recovering above the MYR3.72 level in its latest session. Traders may buy as a bullish bias could be present above this level, with a target price of MYR4.29, assuming the MYR4.05 level can be surpassed. The stock may drift sideways if it dips back below the MYR3.72 mark. In this case, support is anticipated at MYR3.54, where traders can exit upon a breach.

source: RHB Research - 18/02/2016

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.