Apr 19, 2016


Kretam Holdings Stock Code 1996

kretam technical analysis

KRETAM (Not Rated). KRETAM has been on an uptrend since August last year with its share price almost doubling from RM0.345 to as high as RM0.65 (February 2016). Following a two-month long downward consolidation phase between RM0.53-RM0.55, the share price broke the RM0.55 resistance level last Friday and continued its rally into yesterday’s trade. For the day, KRETAM was up by 2.0 sen (3.5%) to close at RM0.585. Trading volume was markedly higher, while the MACD has crossed above the signal line to reflect an increase in buying momentum. Hence, we expect the share price to continue its upwards climb towards RM0.60 (R1) and RM0.645 (R2) next. Downside supports are pegged to RM0.55 (S1) and RM0.53 (S2).KRETA

Source: Kenanga Research – 19/04/ 2016

The Company's activities consist of the operation of oil palm plantation & investment holding.