Kenanga Research & Investment

Author: kiasutrader   |   Latest post: Wed, 22 Jan 2020, 9:47 AM


Daily Technical Highlights – (FPGROUP, DUFU)

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FPGROUP (Not Rated)

  • FPGROUP gained 1.5 sen (+4.23%) to close at RM0.370 yesterday.
  • The stock has been consolidating close to its key SMAs and yesterday’s close formed a long bullish candlestick with above average trading volume, signifying buying interest.
  • Coupled with meaningful upticks from key momentum indicators, we think that the share could trend higher.
  • Key resistance levels to look at are RM0.385 (R1) and RM0.445 (R2). Conversely, support levels can be identified at RM0.345 (S1) and RM0.315 (S2).

DUFU (Not Rated)

  • DUFU gained 13.0 sen (+6.44%) to end at RM2.15 yesterday.
  • Chart-wise, the share has been trending upwards since it convincingly broke above its 100-day SMA in early July 2019. With yesterday’s close, two consecutive long bullish candlesticks have formed, which could signal the beginning of a rally.
  • With RSI near overbought levels, we expect some form of consolidation before the share heads higher towards RM2.21 (R1). Should (R1) be taken out, we look towards RM2.29 (R2) next.
  • Meanwhile, support levels can be found at RM1.97 (S1) and RM1.82 (S2).

Source: Kenanga Research - 21 Aug 2019

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Related Stocks

Chart Stock Name Last Change Volume 
FPGROUP 0.855 0.00 (0.00%) 6,671,400 
DUFU 4.07 -0.06 (1.45%) 694,900 

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