Kenanga Research & Investment

Author: kiasutrader   |   Latest post: Wed, 18 Jul 2018, 09:15 AM


Daily Technical Highlights – (F&N, UNISEM)

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F&N (Not Rated)

  • F&N closed at RM37.94 yesterday.
  • Chart-wise, the stock is seemingly trading within a channel where it is now traded near its bottom channel line. Key SMAs continues to display positive outlook with a firmly intact underlying uptrend. Moreover, the stock has also rebounded from its 50-day SMA which has shown to be resilient in the past.
  • While momentum indicators are moderating of late, they continue to move within the positive territory.
  • From here, the rebound may bring F&N towards RM40.00 (R1) and RM43.50 (R2) further up.
  • Conversely, any decisive break below the channel support at RM37.00 (S1) would be negative and may trigger a capitulation toward next support at RM34.60 (S2).

UNISEM (Not Rated)

  • UNISEM gained 9.0 sen (3.53%) to close at RM2.64 yesterday backed by slightly above-average trading volume.
  • From a technical perspective, the stock seems to have reversed in May 2018 after a downtrend since November 2017. The stock, however, retraced after forming a double top last month. Yesterday’s move was significant as it broke through the previous double top swing high of RM2.61.
  • Key momentum indicators are also displaying positive signals such as MACD above signal line and RSI in the neutral zone. As such, we believe that UNISEM will likely continue to move upwards.
  • Fibonacci projects resistances at RM2.93 (R1) and RM3.24 (R2). Conversely, supports can be identified at RM2.61 (S1) and RM2.23 (S2).

Source: Kenanga Research - 12 Jul 2018

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Labels: F&N, UNISEM

Related Stocks

Chart Stock Name Last Change Volume 
F&N 37.76 -0.14 (0.37%) 41,400 
UNISEM 2.72 +0.08 (3.03%) 579,300 

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