Highlights

Kenanga Research & Investment

Author: kiasutrader   |   Latest post: Thu, 2 Jul 2020, 9:50 AM

 

Daily Technical Highlights - (TM, ECONBHD)

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TM (Not Rated)

  • TM gained 6.0 sen (+1.69%) to close at RM3.61 yesterday.
  • Chart-wise, the share has broken above the key SMAs and rallied to nine-month high after the group announced an almost doubling of its net profit for 1Q19.
  • Following the bullish momentum lately which was supported by inspiring key technical indicators, we believe the share may continue trending upwards.
  • Should buying interest persist, resistance can be seen at RM4.00 (R1) and RM4.20 (R2)
  • On the other hand, key support level can be found at RM3.28 (S1) and RM3.08 (S2).

ECONBHD (Not Rated)

  • Yesterday, ECONBHD rose 1.0 sen (+1.46%) to end at RM0.695, on stronger-than-expected trading volumes.
  • We observed that the recent rally has prompted the share to trade above its key SMAs. Coupled with a bullish MACD crossover, we believe that there may be further room for upside.
  • We expect the share to test its higher resistances at RM0.830 (R1) and RM0.975 (R2).
  • Conversely, downside supports can be seen at RM0.515 (S1) and RM0.415 (S2).

Source: Kenanga Research - 12 Jun 2019

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Labels: TM, ECONBHD

Related Stocks

Chart Stock Name Last Change Volume 
TM 4.11 -0.04 (0.96%) 4,266,200 
ECONBHD 0.645 +0.025 (4.03%) 5,000,000 

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