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Technical Highlights - Lotus KFM Berhad (LOTUS)
Lotus KFM Berhad ( $LOTUS (8303.MY)$ ) closed at RM0.22 yesterday, experiencing a 4.35% decline. The stock is approaching a significant support level around its 50-day SMA of RM0.20. The stochastic oscillator, currently at 82.96, suggests bullish momentum, while the Smart MCDX indicator shows solid accumulation, hinting at buying interest.
From a technical standpoint, the price is standing in swinging territory, with indication to breach the key resistance levels as indicated below, suggesting slower selling pressure at its current price.
Key resistance levels to monitor include RM0.23, with further potential up to RM0.245. Immediate support lies at RM0.199 (50-day SMA). Traders may consider accumulating at current levels for a potential breakout, targeting RM0.245, while a stop-loss at RM0.195 offers a conservative risk management approach.
From a technical standpoint, the price is standing in swinging territory, with indication to breach the key resistance levels as indicated below, suggesting slower selling pressure at its current price.
Key resistance levels to monitor include RM0.23, with further potential up to RM0.245. Immediate support lies at RM0.199 (50-day SMA). Traders may consider accumulating at current levels for a potential breakout, targeting RM0.245, while a stop-loss at RM0.195 offers a conservative risk management approach.
Disclaimer: Community is offered by Moomoo Technologies Inc. and is for educational purposes only.
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