Kenanga Research & Investment

Author: kiasutrader   |   Latest post: Tue, 21 May 2019, 11:18 AM


Daily technical highlights – (PENTA, VITROX)

Author:   |    Publish date:

PENTA (Not Rated)

  • PENTA gained 10.0 sen (2.96%) to close at RM3.48.
  • The share has been on a rally since early-January followed by three bullish candlesticks that pierced through 20-Day SMA.
  • We believe the bullish trend remains intact with the appearance of a “Marubozu” candlestick yesterday, coupled with the above-average trading volume at 2.25m.
  • Should buying momentum persist, we expect the share to advance towards RM3.60 (R1) and RM3.85 (R2).
  • Conversely, downside risks are identified at RM3.25 (S1) and RM2.96 (S2).

VITROX (Not Rated)

  • VITROX gained 15.0 sen (+2.14%) yesterday to close at RM7.17.
  • Yesterday’s move saw the share broke above the 100-day SMA, possibly indicating more upside potential.
  • Moreover, yesterday’s move was also backed by higher-than-average trading volume.
  • From here, follow-through buying momentum will see the share test its immediate resistance at RM7.50 (R1) with the next resistance identified at RM8.00 (R2).
  • Conversely, downside supports are found at RM6.50 (S1) and RM5.70 (S2).

Source: Kenanga Research - 5 Mar 2019

Share this

Related Stocks

Chart Stock Name Last Change Volume 
PENTA 4.10 -0.24 (5.53%) 3,371,500 
VITROX 7.02 -0.06 (0.85%) 372,000 

  Be the first to like this.


239  441  452  780 

Top 10 Active Counters
 BARAKAH 0.07-0.015 
 LAMBO 0.065-0.005 
 ARMADA 0.19-0.005 
 PHB 0.0250.00 
 VC-PA 0.07-0.005 
 IMPIANA 0.035-0.01 
 LAMBO-WB 0.010.00 
 NIHSIN-WB 0.06-0.02 
 TIGER 0.045+0.005 
 IOIPG 1.190.00 
Partners & Brokers