Highlights

Kenanga Research & Investment

Author: kiasutrader   |   Latest post: Thu, 24 Oct 2019, 10:20 AM

 

Daily Technical Highlights – (KGB, CCM)

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KGB (Not Rated)

  • KGB rose 6.0 sen (+5.17%) to close at RM1.22.
  • Technically, the share has been on a rally after rebounding and breaking above its 100-day in mid-December. Coupled with upticks in key momentum indicators and above-average trading volume at 5.4m, we believe the overall technical outlook may continue to be positive.
  • Should the buying momentum persist, we look towards RM1.25 (R1) and RM1.30 (R2).
  • Conversely, support levels can be identified at RM1.16 (S1) and RM1.06 (S2).

CCM (Not Rated)

  • CCM gained 13.0 sen (+7.07%) to close at RM1.97 last night.
  • Despite the gain, we are not convinced that the bullish run yesterday will continue as there is no technical indicator, which shows a prominent sign of a potential rally. Moreover, yesterday’s move was not backed by strong trading volume.
  • Expect the share to retrace back to its support levels at RM1.75 (S1) and even RM1.55 (S2).
  • Should there be positive news flow, the share may then test its resistances at RM2.00 (R1) and RM2.20 (R2).

Source: Kenanga Research - 12 Feb 2019

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Labels: KGB, CCM

Related Stocks

Chart Stock Name Last Change Volume 
KGB 1.40 +0.03 (2.19%) 593,000 
CCM 1.57 0.00 (0.00%)

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