Thursday, April 3rd, 2025

Karex Poised for Breakout as Bullish Momentum Builds

Date: September 23, 2024
Broker: CGS International Securities Malaysia Sdn. Bhd.


Company Overview

Karex Berhad is a Malaysian company primarily engaged in the manufacturing of condoms, lubricating jelly, and other medical devices such as catheters and probe covers.


Technical Analysis and Stock Performance

  • Stock Code: 5247
  • Last Price (as of September 23, 2024): RM0.865
  • Entry Price Range: RM0.83 – RM0.865
  • Support Levels:
    • Support 1: RM0.78
    • Support 2: RM0.715
  • Resistance Levels:
    • Resistance 1: RM0.895
    • Resistance 2: RM0.96
  • Target Price: RM0.895, RM0.96
  • Stop Loss Level: RM0.775

After moving sideways for five months following a 52-week high, Karex saw a long white candle break out above its consolidation trend on September 23, 2024. This breakout was supported by increased trading volume. The stock’s 20-day EMA crossed above its 50-day EMA in a golden cross, further enhancing the bullish outlook.

The MACD and RSI indicators have turned upward, indicating that bullish momentum is picking up once again.


Investment Strategy

With the recent breakout and bullish technical indicators, Karex offers a promising buying opportunity. Aggressive traders are advised to go long, with a stop-loss set at RM0.775, just below the 200-day EMA. On the upside, the stock may test its previous high at RM0.895, with potential further gains reaching the Fibonacci target of RM0.96.

Singapore’s Big Three Banks Poised for Robust Q4 Results Amid Investor Optimism on Dividends and Buybacks

Singapore’s banking giants—DBS, UOB, and OCBC—are set to release their fourth-quarter (Q4) and full-year 2024 results in February, with analysts expecting strong earnings, resilient net interest income, and a heightened focus on capital management....

Top Glove Announces 1-for-20 Bonus Warrant Issue: Key Dates and Details for Shareholders

Deep Dive: Top Glove Corporation Bhd’s Bonus Issue of Warrants Deep Dive: Top Glove Corporation Bhd’s Bonus Issue of Warrants Date of Report: January 16, 2025 Broker: Securities Services (Holdings) Sdn Bhd Overview of...

Hongkong Land: A Property Powerhouse Primed for a Monumental Comeback

Hongkong Land (HKL), a titan in the realm of prime commercial properties, is setting its sights on a transformative future. Renowned for its prestigious portfolio in Hong Kong, as well as a commanding presence...