Kenanga Research & Investment

Author: kiasutrader   |   Latest post: Mon, 26 Oct 2020, 10:23 AM


Daily technical highlights – (GCB,CARIMIN)

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Daily technical highlights – (GCB,CARIMIN)

GCB (Not Rated)

  • GCB rose 17.0 sen (+4.25%) to close at RM4.17 yesterday.
  • Chart-wise, the share has been trading above all the key SMAs since mid-August 2019, and yesterday it has broken above the historical high with a long bullish candlestick.
  • Coupled with bullish MACD indicator, we believe that the share could move higher.
  • Should buying momentum persists, we expect the share to test the resistance level at RM4.40 (R1) and RM4.50 (R2)
  • On the other hand, support levels can be found at RM3.85 (S1) and RM3.75 (S2).

CARIMIN (Not Rated)

  • Yesterday, CARIMIN gained 6.0 sen (+5.66%) to close at RM1.12.
  • Chart-wise, the share has broken above the previous high coupled with higher-than-average trading volume.
  • Besides, the bullish MACD indicator further support the bullish sentiment, hence we believe that the share could trend higher.
  • Should the buying interest persist, the key resistance levels to look out for are RM1.25 (R1) and RM1.30 (R2).
  • Conversely, downside supports can be identified at RM0.900 (S1) and RM0.860 (S2).

Source: Kenanga Research - 3 Oct 2019

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Related Stocks

Chart Stock Name Last Change Volume 
GCB 3.04 -0.03 (0.98%) 556,800 
CARIMIN 0.49 -0.015 (2.97%) 973,300 

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