Highlights

Kenanga Research & Investment

Author: kiasutrader   |   Latest post: Fri, 22 May 2020, 9:50 AM

 

Daily Technical Highlights – (JTIASA, MBMR)

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JTIASA (Not Rated)

  • JTIASA gained 4.0 sen (+6.84%) to close at RM0.625 yesterday.
  • Chart-wise, the share appears to be staging a rebound after down trending since early 2018.
  • Key momentum indicators are bullish now. Moreover, yesterday’s move was supported by strong trading volume, which makes us believe that there is more upside.
  • From here, we expect follow-through buying that may see the share rally to its resistances at RM0.705 (R1) and even RM0.790 (R2).
  • On the other hand, any negative news is likely to see retracement towards RM0.600 (S1) and possibly RM0.430 (S2).

MBMR (Not Rated)

  • MBMR gained 4.0 sen (+1.33%) yesterday to close at RM3.04.
  • The share had been on a rally since December 2018 and the primary uptrend still appears intact.
  • There is no sign of any tapering momentum yet while volume had been high, possibly indicating more upside.
  • Continuous buying momentum is likely to see the share go higher to its resistance at RM3.20 (R1) and RM3.30 (R2).
  • Any short term retracement towards its immediate support at RM2.90 (S1) would be a good entry point while a break below RM2.65 (S2) will be highly negative.

Source: Kenanga Research - 17 Apr 2019

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Labels: JTIASA, MBMR

Related Stocks

Chart Stock Name Last Change Volume 
JTIASA 0.53 -0.04 (7.02%) 14,719,900 
MBMR 2.86 +0.01 (0.35%) 378,600 

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