Kenanga Research & Investment

Author: kiasutrader   |   Latest post: Wed, 20 Mar 2019, 8:54 AM


Daily Technical Highlights – (GBGAQRS, AIRPORT)

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GBGAQRS (Not Rated)

  • Yesterday, GBGAQRS closed at RM1.64 (+1.2%) to pare some losses from its recent sell-down.
  • From the recent candlesticks development (i.e. doji followed by white candlestick), it appears that investors are showing buying interest in the counter once again.
  • Underlying trend remains bearish with SMAs in “Death Crossover” state, but momentum indicators, such as a bullish MACD-Signal Line crossover, may be suggestive of a potential reversal.
  • The stock is currently in the midst of testing its resistance at RM1.65 (R1). Should price closes above R1, follow through buying could lead price towards RM1.85 (R2).
  • Conversely, downside support is located at RM1.50 (S1) and RM1.33 (S2).

AIRPORT (Not Rated)

  • AIRPORT gained 12.0 sen (1.35%) to close at RM9.04 yesterday, bringing the share to close above key SMAs.
  • Technical picture of AIRPORT is turning positive with yesterday’s move marking a decisive breakout from its almost 2- month sideways trading.
  • Similarly, momentum indicators are mostly in supportive of a positive outlook, as evidenced by upticks in MACD, RSI as well as Stochastic.
  • Should buying interest follow through, expect for a higher move towards RM9.20 (R1). Once R1 is taken out, the share price is on a clear path towards RM9.45 (R2).
  • Conversely, downside risks are identified at a strong immediate support level RM8.90 (S1) and RM 8.62 (S2) further down.

Source: Kenanga Research - 4 Apr 2018

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Related Stocks

Chart Stock Name Last Change Volume 
GBGAQRS 1.24 +0.01 (0.81%) 2,072,800 
AIRPORT 7.70 -0.01 (0.13%) 2,073,600 

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