Highlights

Kenanga Research & Investment

Author: kiasutrader   |   Latest post: Fri, 14 Aug 2020, 10:24 AM

 

Daily Technical Highlights – (BURSA, IJM)

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BURSA (Not Rated)

• BURSA gained 27.0 sen (+4.20%) to close at RM6.70.

• Yesterday candlestick formed a long bullish candlestick after a period of consolidation, which could signify that the share has regained buying interest.

• Coupled with the above-average trading volume and uptick in key technical indicators, we believe the share could trend higher to its resistances at RM6.80 (R1) and RM7.10 (R2).

• Conversely, downside support can be identified at RM6.60 (S1) and RM6.40 (S2).

IJM (Not Rated)

• Yesterday, IJM lost 5.0 sen (-2.07%) to end at RM2.36.

• Chart-wise, the share has been on a rally since May’19, which saw it trading above all of its key-SMAs.

• Nevertheless, we observed that key momentum indicators are coming off from their overbought areas, signalling a possible retracement.

• Expect the share to find its next support at RM2.11 (S1) and RM1.88 (S2).

• Conversely, resistance levels can be identified at RM2.53 (R1) and RM2.79 (R2).

Source: Kenanga Research - 25 Jun 2019

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Labels: BURSA, IJM

Related Stocks

Chart Stock Name Last Change Volume 
BURSA 9.45 -0.12 (1.25%) 6,800,000 
IJM 1.37 -0.03 (2.14%) 8,833,700 

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