Kenanga Research & Investment

Author: kiasutrader   |   Latest post: Mon, 9 Dec 2019, 10:49 AM


Daily Technical Highlights – (AWC, SUPERMX)

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AWC (Trading Buy, TP: RM0.865; SL: RM0.675)

  • AWC gained 1.0 sen (+1.32%) to close at RM0.770 yesterday.
  • Recall we mentioned in our previous report that we may consider a “Trading Buy” should AWC break above its 100-day SMA. Yesterday’s move saw the share punching through the 100-day SMA fulfilling our condition. Coupled with positive upticks in key momentum indicators, we believe that there could be more room for upside.
  • From here, we expect AWC to test its resistance at RM0.810 (R1) where a break above it would see a further rally to RM0.880 (R2).
  • Immediate downside support is at RM0.740 (S1), failing which further support is located at RM0.690 (S2) below.

SUPERMX (Not Rated)

  • Yesterday, SUPERMX lost 1.0 sen (-0.64%) to close at RM1.56.
  • Chart-wise, the share seems to be undergoing a bearish momentum after losing c.7% over the past five-day. Notably, the share is currently trading below all of its SMAs as it closed below its 20-day SMA yesterday.
  • Shorter-term SMAs are also trading below longer-term SMAs which indicate that the downtrend is still intact. We believe that there may be further downside owing to lacklustre key momentum indicators.
  • Immediate support levels can be found at RM1.41 (S1) and RM1.21 (S2). Conversely, resistance can be identified at RM1.70 (R1) and RM1.85 (R2).

Source: Kenanga Research - 27 Feb 2019

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Related Stocks

Chart Stock Name Last Change Volume 
AWC 0.63 -0.01 (1.56%) 1,079,700 
SUPERMX 1.40 +0.06 (4.48%) 6,035,200 

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