Kenanga Research & Investment

Author: kiasutrader   |   Latest post: Fri, 13 Dec 2019, 9:38 AM


Daily Technical Highlights – (WIDAD, D&O)

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WIDAD (Not Rated)

  • WIDAD gained 1.5 sen (+5.17%) to close at RM0.305 yesterday, accompanied by higher-than-average trading volume.
  • Overall, the technical outlook is positive as the share has just broken above all key SMAs.
  • This may potentially signal more upward movement as we note there was a rally that happened in September 2018 previously after it broken past all key SMAs.
  • From here, expect the share to test its next resistance at RM0.350 (R1) and even RM0.400 (R2).
  • Conversely, downside supports can be identified at RM0.250(S1) and RM0.220 (S2).

D&O (Not Rated)

  • D&O declined by 2.5 sen (-3.47%) to close at RM0.695 below its 20-day SMA.
  • The share has been on a downtrend since early-October and we believe the selling momentum is yet to be over as key technical indicators remain lacklustre.
  • We note that shorter-term SMAs are trading below longer-term SMAs. Coupled with the formation of a third consecutive bearish candlestick, we believe there are more downsides.
  • Immediate support levels can be identified at RM0.675 (S1) and RM0.610 (S2).
  • Conversely overhead resistance is seen at RM0.735 (R1) and RM0.770 (S2).

Source: Kenanga Research - 23 Jan 2019

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Labels: WIDAD, D&O

Related Stocks

Chart Stock Name Last Change Volume 
WIDAD 0.545 0.00 (0.00%) 10,176,300 
D&O 0.76 +0.03 (4.11%) 2,433,900 

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