Kenanga Research & Investment

Author: kiasutrader   |   Latest post: Tue, 20 Mar 2018, 03:03 PM


Daily Technical Highlights – (HUAAN, KRONO)

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HUAAN (Not Rated)

  • HUAAN gained an impressive 5.0 sen (9.8%) to close at RM0.560.
  • Yesterday's strong move signals a breakout from its 1-month consolidation phase, supported by a jump in trading volume to 96.0m – above average volume of 73.3m.
  • Momentum indicators display upticks i.e. RSI which has moderated from a previously overbought position, potentially offering investors a safer entry.
  • Expect follow-through buying towards RM0.665 (R1). A decisive break above R1 would then serve as a huge positive, potentially attracting further buying towards RM0.810 (R2).
  • Support levels can be found at RM0.520 (S1) and RM0.435 (S2).

KRONO (Not Rated)

  • KRONO rose 7.0 sen (10.0%) to close at RM0.770.
  • Yesterday’s move resulted in a downtrend breakout with MACD in bullish divergence, to signal that the share price has bottomed out and now poised for a recovery.
  • Key indicators are in supportive of a move higher, with the RSI now venturing close to cross above 50-point mark while MACD has hooked upwards above signal line.
  • From here, expect KRONO to punch through its immediate resistance level of RM0.785 (R1) at ease. Should this level be taken out, next resistance levels to target are RM0.880 (R2) and RM0.960 (R3).
  • Downside risk, on the other hand, is protected by an immediate support at RM 0.710 (S1) and RM0.630 (S2) next.

Source: Kenanga Research - 20 Feb 2018

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Related Stocks

Chart Stock Name Last Change Volume 
HUAAN 0.385 -0.02 (4.94%) 34,401,200 
KRONO 0.665 -0.015 (2.21%) 1,229,500 

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