KNM attracted investors' attention as market understands that as one of
the largest process equipment manufacturers, it should be one of the
key beneficiaries of the RAPID project. Yesterday, KNM advanced another
3.5 sen and closed at RM0.94. Technically speaking, KNM has broken out
from the technical resistance at RM0.935. Coupled with positive reading
from key momentum indicators and the high trading volume, probability
suggests that KNM is ready for further upside move. Should buying
momentum persists, we believe that KNM could rally towards its next
resistance level of RM1.00 (R1) and possibly RM1.06 (R2) next.
Source: Kenanga
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