Highlights

Kenanga Research & Investment

Author: kiasutrader   |   Latest post: Thu, 27 Feb 2020, 10:29 AM

 

Daily Technical Highlights – (MFCB,GENTING)

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MFCB (Not Rated)

  • MFCB jumped by 15.0sen (+3.40%) to end at RM4.56 yesterday.
  • Chart-wise the share has been trending above all key-SMAs since early-September.
  • Yesterday’s candlestick closed higher with a “Marubozu Candlestick”, indicating strong buying interest. Coupled with above average trading volume and healthy key-SMAs, we expect the uptrend to persist.
  • Should the share head north, overhead resistance are seen at RM4.80 (R1) and RM5.10 (R2).
  • Conversely, key support levels can be seen at RM4.30 (S1) and RM4.00 (S2).

GENTING (Not Rated)

  • GENTING gained by 8.0 sen (+1.34%) to end at RM6.04 yesterday.
  • Chart-wise, the share has been declining but buying interest resumed and resulted in a trend reversal in early-November.
  • Yesterday, the candlestick marked the third consecutive bullish candlestick, which signifies strong buying momentum. Should the 20-Day SMA continue trending upward, we see a potential of a “Golden Cross” formation.
  • With that, key resistance levels can be found at RM6.35 (R1) and RM7.00 (R2).
  • Conversely, downside supports can be identified at RM5.75 (S1) and RM4.97 (S2).

Source: Kenanga Research - 6 Nov 2019

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Labels: MFCB, GENTING

Related Stocks

Chart Stock Name Last Change Volume 
MFCB 5.33 -0.10 (1.84%) 539,000 
GENTING 5.19 +0.01 (0.19%) 2,985,600 

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