Highlights

Kenanga Research & Investment

Author: kiasutrader   |   Latest post: Thu, 18 Apr 2019, 8:52 AM

 

Daily Technical Highlights – (GHLSYS, WASEONG)

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GHLSYS (Not Rated)

  • Yesterday, GHLSYS gained 6 sen (4.2%) to close at RM1.50, despite spending almost half the day in red.
  • Technically, trends have been positive after the share seemingly bottomed-out early April. Key SMAs are now in “Golden Cross”, while momentum indicators such as the MACD continue positive displays.
  • From here, follow-through buying could see the share continue trending towards resistances at RM1.62 (R1) and RM1.80 (R2).
  • Conversely, immediate supports can be found at RM1.42 (S1) and RM1.33 (S2).

WASEONG (Not Rated)

  • Yesterday, WASEONG climbed 8.0 sen (6.3%) to close at RM1.35.
  • Technical-wise, the share underwent a rapid uptrend until March-2018 before transitioning into a period of consolidation. While there is still a lack of signal for a bullish continuation of prior rally, RM1.25 is shown to be a strong support level with multiple successful rebounds from it.
  • Nonetheless, indicators such as the Stochastic seem to suggest that WASEONG is oversold.
  • From here, expect RM1.25 (S1) to provide a firm support. Meanwhile, investors may buy on dips with an expectation of a rebound towards RM1.50 (R1) and RM1.66 (R2) further up.
  • However, should S1 lose ground; the outlook is deemed as negative, with next support only to be found at RM1.06 (S2).

Source: Kenanga Research - 1 Jun 2018

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Labels: GHLSYS, WASEONG

Related Stocks

Chart Stock Name Last Change Volume 
GHLSYS 1.69 -0.02 (1.17%) 97,000 
WASEONG 0.755 -0.005 (0.66%) 331,700 

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