• KRONO rose 7.0 sen (10.0%) to close at RM0.770.
• Yesterday’s move resulted in a downtrend breakout with MACD in bullish divergence, to signal that the share price has bottomed out and now poised for a recovery.
• Key indicators are in supportive of a move higher, with the RSI now venturing close to cross above 50-point mark while MACD has hooked upwards above signal line.
• From here, expect KRONO to punch through its immediate resistance level of RM0.785 (R1) at ease. Should this level be taken out, next resistance levels to target are RM0.880 (R2) and RM0.960 (R3).
• Downside risk, on the other hand, is protected by an immediate support at RM 0.710 (S1) and RM0.630 (S2) next.
• Yesterday’s move resulted in a downtrend breakout with MACD in bullish divergence, to signal that the share price has bottomed out and now poised for a recovery.
• Key indicators are in supportive of a move higher, with the RSI now venturing close to cross above 50-point mark while MACD has hooked upwards above signal line.
• From here, expect KRONO to punch through its immediate resistance level of RM0.785 (R1) at ease. Should this level be taken out, next resistance levels to target are RM0.880 (R2) and RM0.960 (R3).
• Downside risk, on the other hand, is protected by an immediate support at RM 0.710 (S1) and RM0.630 (S2) next.
source: Kenanga Research - 20/02/2018
KRONOLOGI ASIA BERHAD
The Group are principally provides value-added solutions and professional services to install configure and implement EDM infrastructure technology solution that is integrated into their end-user customers’ IT environment to provide backup storage and recovery services of the end-user customers’ digital data.
