Date: October 21, 2024
Broker: CGS International Securities Malaysia Sdn. Bhd.

Company Overview

Karex is a leading manufacturer of condoms and other rubber products, supplying both consumer and commercial markets. It is recognized as one of the largest condom manufacturers in the world, catering to various brands and organizations globally.

Recent Stock Performance

• Last Price: RM 0.835
• Karex’s stock has been trading slightly below its initial entry price, reflecting a period of consolidation. However, the technical indicators suggest potential for a rebound, making it a stock to watch in the short term.

Technical Analysis

• Entry Price: RM 0.865
• Current Price: RM 0.835
• Stop Loss: RM 0.775
• Target Prices: RM 0.895, RM 0.96

Trading Position

• Current Position: Buy
• Weighting in Portfolio: 8%
• Shares Held: 115,600
• Total Cost: RM 99,994.00
• Market Value: RM 96,526.00
• Profit/Loss: -RM 3,468.00 (-3.5%)

Trading Recommendation

The stock is currently held in a “Buy” position despite experiencing a minor loss. The stop-loss level is set at RM 0.775 to manage risks effectively. The technical setup suggests that there is still potential for a recovery, with upside targets of RM 0.895 and RM 0.96. Traders are advised to monitor the price action closely and adjust positions as needed.

Conclusion

Karex remains in the actively managed portfolio with the expectation of a possible rebound. While the stock has faced some downward pressure, technical analysis indicates the possibility of gains if the stock can surpass its current resistance levels. Investors are encouraged to keep an eye on the stock’s movements and adhere to the stop-loss for risk management.