Kenanga Research & Investment

Author: kiasutrader   |   Latest post: Mon, 10 Aug 2020, 12:33 AM


Daily Technical Highlights – (HUAYANG, IWCITY)

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HUAYANG (Not Rated)

• Yesterday, HUAYANG slipped 2.0 sen (-4.76%) to end at RM0.400.

• Notably, yesterday’s bearish candlestick was accompanied by stronger-than-average trading volume. Coupled with uninspiring momentum indicators, we believe that the rally that started in June is overdone and a possible retracement may follow.

• Expect the share to retrace towards its support levels at RM0.350 (S1) and RM0.300 (S2).

• Conversely, resistance levels can be identified at RM0.455 (S1) and RM0.500 (S2).

IWCITY (Not Rated)

• IWCITY rose 2.0 sen (+2.06%) to close at RM0.990 yesterday.

• Chart-wise, the share is rebounding from its previous sell down, which saw it trading above all of its key SMAs currently.

• Coupled with a bullish MACD crossover, we believe that there may still be room for upside.

• Should the positive momentum persist, it is expected that the share to see resistances at RM1.110 (R1) and RM1.200 (R2).

• Conversely, support levels can be identified at RM0.860 (S1) and RM0.715 (S2).

Source: Kenanga Research - 14 Jun 2019

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Related Stocks

Chart Stock Name Last Change Volume 
HUAYANG 0.275 +0.01 (3.77%) 148,600 
IWCITY 0.59 -0.005 (0.84%) 1,891,200 

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