Kingboard Laminates (01888.HK): The stock price has doubled in a month. Investors are asking where the resistance is. Some investors also see it reaching HKD 40.

Kingboard Laminates reported 35.620 HKD on April 28, surging 7.35%. The stock price is moving upward along the 5-day and 10-day moving averages, showing a clear short-term bullish trend.
Technically, the stock price is above the 5-day MA at 33.568 HKD, the 10-day MA at 30.786 HKD, the 20-day MA at 26.196 HKD, the 30-day MA at 24.490 HKD, and the 60-day MA at 21.863 HKD, indicating a complete upward structure. The April 28 report is already close to the 36.500 HKD high and near the upper Bollinger Band at 36.774 HKD. Short-term resistance is concentrated in the 36.500 HKD to 36.774 HKD range.
The Relative Strength Index (RSI) is reported at 87.507, indicating significant overheating, which suggests the uptrend remains strong. However, the risk-reward ratio for short-term entry is not high, and investors should be aware of high-level volatility and profit-taking risks. Initial support below is at 33.568 HKD, followed by 30.786 HKD.
Some investors mentioned the stock price doubled in a month and are concerned about where the resistance lies. From the current technical position, the first resistance is the 36.500 HKD high, followed by the upper Bollinger Band at 36.774 HKD. Only if it breaks through and stabilizes above these levels can it potentially extend further upward.
Other investors are targeting 40 HKD. If the stock price can break through the 36.500 HKD to 36.774 HKD resistance zone, 40 HKD could be the next upward target. However, given the sharp rise reported on April 28 and the overheated RSI, if it fails to break 36.774 HKD, attention should be paid to the risks of high-level profit-taking and time value decay.