Kenanga Research & Investment

Author: kiasutrader   |   Latest post: Tue, 19 Feb 2019, 09:25 AM


Daily Technical Highlights – (YONGTAI, OCK)

Author:   |    Publish date:

YONGTAI (Not Rated)

  • YONGTAI declined 1.5 sen (-3.45%) to close at RM0.420 yesterday.
  • Chart-wise, the share has been on a downtrend since breaking below its key SMAs in July-2018. Ever since, the share has never broken above its 50-day SMA. We note that YONGTAI is currently testing its 50-day SMA, which has historically been proven to see some selling pressure.
  • Coupled with near overbought signals from both RSI and Stochastic indicators, we opine that it would be difficult to break above the 50-day SMA.
  • Should buying momentum continue, we expect resistances at RM0.495 (R1) and RM0.600 (R2). Conversely, support levels can be identified at RM0.320 (S1) and RM0.265 (S2).

OCK (Not Rated)

  • OCK gained 2.0 sen (+4.04%) to close at RM0.515 underpinned by stronger-than-average trading volume with 22.9m shares exchanging hand -4 folds to its 20-day average.
  • Based on the technical chart, recent rallies has resulted in a downtrend breakout, potentially to signal the share price has bottomed out and now poised for a recovery.
  • This is further supported by increasingly positive momentum indicators as displayed by the strong upwards trending in the MACD, RSI and Stochastic.
  • A decisive takedown of RM0.530 (R1) resistance level will then see the share to advance towards RM0.610 (R2).
  • Conversely, immediate support can be found at RM0.480 (S1) and RM0.400 (S2).

Source: Kenanga Research - 18 Jan 2019

Share this

Related Stocks

Chart Stock Name Last Change Volume 
YONGTAI 0.355 +0.005 (1.43%) 610,900 
OCK 0.575 +0.01 (1.77%) 466,700 

  Be the first to like this.
2fast4u thanks for sharing. will keep an eye out for yongtai
18/01/2019 12:01


201  166  471  1320 

Top 10 Active Counters
 EAH 0.02+0.005 
 TRC 0.58+0.005 
 HSI-H4Y 0.21-0.005 
 HSI-C3W 0.385+0.01 
 PERMAJU 0.40+0.01 
 SAPNRG-WA 0.100.00 
 EAH-WE 0.010.00 
 SEACERA 0.33+0.015 
 ARMADA 0.22-0.005 
 VSOLAR 0.18+0.01 


1. Investment Bloggers Day 2019 MQ Trader Announcement!
Partners & Brokers