Kenanga Research & Investment

Author: kiasutrader   |   Latest post: Fri, 14 Jun 2019, 11:04 AM


Daily Technical Highlights – (ALAM, VIZIONE)

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ALAM (Not Rated)

  • ALAM gained 0.5 sen (+5.26%) yesterday to close at RM0.100.
  • The share has staged a recovery in mid-December 2018 and has since broken above both 20 and 50-day SMA. However, we note that the 100-day SMA has proven to be a rather resilient level. Coupled with both stochastic and RSI indicators near overbought levels, we opine that selling pressure is likely to emerge.
  • Should a retracement happen, we look towards RM0.080 (S1) and RM0.060 (S2) as support levels.
  • Conversely, should the buying momentum continue, we expect resistances at RM0.110 (R1) and RM0.140 (R2).

VIZIONE (Not Rated)

  • VIZIONE gained 2.0 sen (+2.00%) to close at RM1.02 yesterday, underpinned by stronger than 20-day average trading volume.
  • Overall technical outlook appears improving backed by recent “Golden Crossover” formation between 20 and 50-day key SMAs.
  • Momentum indicators mostly leaning on the upside-bias as displayed by strong upwards movement in the MACD, RSI and Stochastic.
  • Should the buying momentum be sustained, we expect the share to advance towards RM1.08 (R1), with a decisive takedown will see the share on higher notes towards RM1.20 (R2).
  • Meanwhile, support levels are found at RM0.945 (S1) and RM0.875 (S2) further down.

Source: Kenanga Research - 29 Jan 2019

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Chart Stock Name Last Change Volume 
ALAM 0.09 -0.01 (10.00%) 760,800 
VIZIONE 0.98 -0.02 (2.00%) 1,611,300 

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