Kenanga Research & Investment

Author: kiasutrader   |   Latest post: Thu, 12 Dec 2019, 11:54 AM


Daily Technical Highlights – (KRONO, UNISEM)

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KRONO (Trading Buy, TP: RM0.865; SL: RM0.705)

  • Yesterday, KRONO gained 7.0 sen (+10.07%) to close at RM0.765.
  • Technical-wise, yesterday’s move represents a decisive breakout, thus confirming its bullish “ascending triangle” chart pattern, indicating a reversal from its prior downtrend. Furthermore, the breakout was also accompanied by exceptional trading volume indicating strong buying interest.
  • Likewise, KRONO’s key SMAs are in a “Golden Cross” state and key momentum indicators continue to show positive signals, which reinforce its upside potential.
  • From here, we expect KRONO to test its resistance of RM0.820 (R1) and further to RM0.880 (R2) should the first resistance level be taken out.
  • Conversely, downside bias should see support at RM0.720 (S1).

UNISEM (Not Rated)

  • UNISEM gained 9.0 sen (+3.27%) yesterday to close at RM2.84 on the back of increased trading volumes.
  • The technical outlook of the share is seemingly bullish at this juncture with the trend line staying positive after the share bottomed-out in May, while key SMAs remains in a “Golden Crossover” state.
  • Momentum indicators are also indicating for an uptrend continuation as displayed by the bullish MACD crossover and continuous upwards movements in RSI and Stochastic.
  • The RM3.00 (R1) psychological resistance is a crucial level to watch out, where a decisive break-through could see the share trend towards RM3.50 (R2).
  • Meanwhile, support levels are identified at RM 2.50 (S1) and RM2.20 (R2) further down.

Source: Kenanga Research - 16 Aug 2018

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Related Stocks

Chart Stock Name Last Change Volume 
KRONO 0.73 -0.005 (0.68%) 5,210,500 
UNISEM 2.21 +0.05 (2.31%) 31,200 

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