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Keyfield is looking to extend its upside movement after staging a bullish breakout. The counter has jumped above the RM1.70 resistance on the back of high volume, showing that a bullish technical setup is in play. After the breakout, the stock is poised to test the next resistance at RM1.83, followed by the one at RM1.95
Keyfield is expected to maintain steady vessel utilisation, mainly supported by its expansion into the Middle East and the addition of more vessels to its fleet, according to Phillip Capital
Break RM1.70 means momentum damn strong now and the chart setup looks like going to fly higher. Can hold steady and watch if can sustain the run before deciding to take profit or add more
Keyfield International Bhd’s wholly-owned subsidiary Keyfield Resolute Sdn Bhd has entered into a contract with Fujian Mawei Shipbuilding Ltd and Fujian Funing Shipbuilding Co Ltd for the shipbuilding of a new dynamic positioning (DP2) anchor handling tug supply (AHTS) with diesel-electric engine for a contract price of US$18mil (RM72.5mil).
This big contract really can set the stage for more good news, hope the momentum keeps up. If the execution is solid, then more deals will surely follow suit
