Kenanga Research & Investment

Author: kiasutrader   |   Latest post: Mon, 14 Oct 2019, 11:30 AM


Daily Technical Highlights – (DIALOG, INARI)

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DIALOG (Not Rated)

  • DIALOG rose 2.0 sen (+0.67%) to close at RM3.02.
  • Chart-wise, the share failed to close above its 50-day SMA. We note that the share is currently trading below its 50 and 100- day SMAs, which have proven to be key levels.
  • Shorter-term SMAs are also trading below longer-term SMAs which indicate that the downtrend is still intact. Coupled with lacklustre key momentum indicators, we believe that there may be a further downside.
  • Immediate support levels can be identified at RM2.70 (S1) and RM2.55 (S2). Conversely, resistance levels can be found at RM3.12 (R1) and RM3.24 (R2).

INARI (Not Rated)

  • INARI gained 4.0 sen (+2.67%) on Monday to close at RM1.54.
  • Chart-wise, the share has been on a downtrend from October 2018, hitting a low of RM1.23 in early January 2019 before rebounding over the past 3 weeks.
  • Overall technical outlook appears bullish as it has seemingly broken out from the downtrend while key momentum indicators are all positive.
  • Expect INARI to test its immediate resistance at RM1.60 (R1) where a break above will see next overhead resistance at RM1.90 (R2).
  • Conversely, downside support can be found at RM1.35 (S1) and RM1.20 (S2).

Source: Kenanga Research - 7 Feb 2019

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Related Stocks

Chart Stock Name Last Change Volume 
DIALOG 3.46 +0.05 (1.47%) 11,067,200 
INARI 1.99 -0.01 (0.50%) 6,241,500 

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