Kenanga Research & Investment

Author: kiasutrader   |   Latest post: Thu, 13 Aug 2020, 10:49 AM


Daily Technical Highlights – (FRONTKN, KAREX)

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FRONTKN(Not Rated)

  • Yesterday, FRONTKN slipped 2.0 sen (-1.46%) to end at RM1.35.
  • Chart-wise, we note that the share is retracing after the stochastic indicator was in the overbought zone.
  • Moreover, trading volume was not strong, possibly indicating that the previous uptrend is not sustainable.
  • From here, the share is more likely to retrace back to its supports at RM1.25 (S1) and even RM1.10 (S2).
  • Conversely, resistances can be identified at RM1.50 (R1) and RM1.60 (R2).

KAREX (Not Rated)

  • KAREX gained 2.5 sen (+4.85%) to end at RM0.540 last night.
  • Over the past few trading days, the share broke above the 20 and 50-day SMAs.
  • Moreover, other momentum indicators are in bullish convergence, possibly indicating more upside.
  • We think that the share may rally and test its immediate resistance at RM0.650 (R1). A break above R1 would see R2 at RM0.780.
  • On the other hand, supports are found at RM0.500 (S1) and RM0.375 (S2).

Source: Kenanga Research - 18 Jun 2019

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Related Stocks

Chart Stock Name Last Change Volume 
FRONTKN 3.54 +0.07 (2.02%) 2,084,100 
KAREX 0.725 -0.01 (1.36%) 4,408,100 

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