Kenanga Research & Investment

Author: kiasutrader   |   Latest post: Fri, 21 Sep 2018, 09:30 AM


Daily Technical Highlights – (DESTINI, MAGNI)

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DESTINI (Not Rated)

  • DESTINI gained 1.0 sen (+3.85%) to end at RM0.270.
  • After gapping down post-GE14, the share had traded below the 20-day SMA with other key indicators showing bearishness.
  • However, there appears to be a change in trend after it started trading above the 20-day SMA last week. Moreover, yesterday’s move was backed by high trading volume, possibly signalling more upside.
  • The share may continue to rally towards the RM0.300 (R1) resistance level and possibly RM0.390 (R2).
  • Conversely, downside support can be identified at RM0.250 (S1) and RM0.200 (S2).

MAGNI (Not Rated)

  • MAGNI gained 29.0 sen (+5.6%) to end at RM5.50, with above-average trading volume.
  • MAGNI started its trending lower since Sep-2017, with its price hitting a low of RM4.10 in Feb-2018. However, recent series of white candlesticks may signal that the stock has bottomed out and poised for a recovery.
  • Technical outlook is positively biased with recent key SMAs’ formation of “Golden Crossover” and up trending momentum indicators.
  • Expect follow-through buying towards RM5.90 (R1) and RM6.33 (R2) further up.
  • Conversely, downside supports are identified at RM4.96 (S1) and RM4.10 (S2).

Source: Kenanga Research - 14 Jun 2018

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Related Stocks

Chart Stock Name Last Change Volume 
DESTINI 0.295 0.00 (0.00%) 4,222,900 
MAGNI 4.80 -0.02 (0.41%) 27,600 

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